The Julia La Roche Show #287 Danielle DiMartino Booth: The Fed Chose Independence Over The Economy Even As A Double-Dip Recession Unfolds
25 snips
Sep 19, 2025 
Danielle DiMartino Booth, CEO and Chief Strategist at QI Research and author of 'Fed Up,' brings her macroeconomic expertise to the conversation. She critiques the Fed's recent 25bp cut as prioritizing independence over economic relief. Highlighting alarming data, she asserts that the U.S. has created zero jobs since April and predicts a double-dip recession beginning in Q2 2024. Danielle stresses the potential risks of the 'Fed put' becoming obsolete, warning that hidden leverage in private markets could lead to systemic vulnerabilities.
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Fed Chose Independence Over Economy
- The Fed prioritized its institutional independence over immediate economic relief by delivering a cautious 25bp cut.
- Danielle DiMartino Booth argues this choice ignored growing private-sector weakness and political pressure on the Fed.
Non-Dissent Signaled Integrity And Risk
- Christopher Waller and Michelle Bowman abstained from dissent, likely sacrificing potential Fed chair chances to show integrity.
- DiMartino Booth says the private-sector core shows zero net job creation since April, signaling deeper weakness.
Payroll Revisions Reveal Earlier Recession
- Real-time payroll revisions reveal the U.S. entered recession earlier than markets acknowledge.
- QI Research: trade the narrative but own the truth about when recessions actually start.
