Danielle DiMartino Booth, CEO and Chief Strategist at QI Research, and George Goncalves, Head of U.S. Macro Strategy at MUFG, join Julia La Roche in-studio on FOMC day, where they break down the Fed's decision to leave rates unchanged, the state of the economy, and the interest rate outlook.
Sponsors:
Monetary Metals: https://monetary-metals.com/julia
Kalshi: https://kalshi.com/julia
Links:
https://www.mufgresearch.com/
George's Twitter/X: https://x.com/bondstrategist
QI Research: https://quillintelligence.com/subscriptions/
Danielle's Twitter/X: https://twitter.com/dimartinobooth
Substack: https://dimartinobooth.substack.com/
YouTube: https://www.youtube.com/@UCYPBim2ARV9Yrqci0ljokFA
Fed Up: https://www.amazon.com/Fed-Up-Insiders-Federal-Reserve/dp/0735211655
00:00 - Danielle: Fed "willfully blind" to economic reality 02:52 - Record 5.3% of Americans working multiple jobs 05:00 - Real unemployment is 4.5-4.6%, not reported 4.2% 08:07 - Debate: Is the Fed being political? 10:00 - George: "More than one economy" - rates hurting different groups 16:28 - Net worth declined via both stocks and real estate in Q1 21:57 - Interest expense is fastest growing budget item 26:06 - Next Fed Chair prediction: Waller, Warsh, Bessent front-runners 32:12 - Corporate bankruptcies highest since 2010 38:49 - Danielle: US entered recession Q1 2024, back in one now 40:26 - Top 10% of earners drive 49.7% of consumption 43:52 - What keeps them up at night: False sense of security
