In this timely interview, Danielle DiMartino Booth, the former banking and Fed insider, shares her analysis on President Trump, the Fed, and what to look for this week on FOMC announcement day…
This is quickly becoming the most predictable FOMC ever, or is it?
To help sort it all out is Danielle DiMartino Booth, a former banking and Fed insider, a Fed advocate with a “fix the Fed” point-of-view, who can break down what has gone on all year in the economy and in politics in general, and what to expect from the Fed this week specifically.
From Wall St for Main St
Jason and Danielle discuss some of the reasons why President Trump can’t seem to get any of his domestic agenda accomplished in DC. (Hint: the swamp creatures living in DC and making high salaries off the status quo hate change and change candidates and they want to maintain the status quo at all costs).
Next, Jason asks Danielle about Stanley Fischer leaving the Federal Reserve Board of Governors early and if that means more Fed members, like Janet Yellen, will be jumping ship as soon as they are allowed to?
Jason also asks Danielle how President Trump will have a historically unprecedented chance to totally remake the Federal Reserve by appointing 4 or 5 new Board of Governors during his first term. However, the Senate seems to be blocking/sabotaging Trump from even getting his first Fed nomination confirmed.
To wrap up the interview, Jason asks Danielle if the Fed will raise interest rates again in 2017, if the Fed is only all talk or actually serious about meaningfully reducing its balance sheet, about collusion among the G7 central banks and whether large asset and bubbles in the US and the global economy are ready to pop? Danielle thinks that eventually all US pension funds may need a federal bailout and states and municipalities will raise taxes on their citizens to cover investment losses, reckless campaign promises by politicians and to make up the difference from underfunded pensions! Yikes!