An adviser to the U.S. Federal Reserve through the Great Financial Crisis to 2015 examines the latest in the largest monetary policy experiment in human history.
Danielle DiMartino Booth is the CEO and chief strategist of Quill Intelligence. Before that, after correctly predicting the mortgage meltdown, she spent nine years as an adviser to Federal Reserve Bank of Dallas President Richard W. Fisher throughout the financial crisis until his retirement in March 2015. That experience led her to write “Fed Up: An Insider's Take on Why the Federal Reserve Is Bad for America.”
In this episode, Danielle and NLW discuss:
- How the Fed went from simply corrupt to corrupt and broken
- Why we’ve been living through the largest experiment in monetary policy history
- Why interest rates are the lowest they’ve been in 5,000 years
- Why COVID-19 was the pin, not the balloon
- Why current Fed action compromises the Fed’s independence
- Why the market structure incentivizes consumption and risk investment over savings
- Why risk investments have ceased to be risky because of Fed backstopping
- Why a key concern is a second wave of COVID-19 layoffs in industries beyond those already impacted
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.