Former Dallas Fed official Danielle DiMartino Booth joins the show just as Chairman Jay Powell faces his first major challenge: will he keep raising rates as promised now that autos, housing, employment, and even tech stocks look soft? And if not, will he effectively signal that the US economy is in big trouble?
DiMartino Booth and Jeff Deist discuss Powell's performance to date, the credulity of the financial press, the ugly ticking time bomb of US corporate debt, and whether Austrians and permabears overestimate the Fed's influence on the economy.
Danielle DiMartino Booth is the founder of Money Strong, LLC, an economic consulting firm. DiMartino Booth spent nine years as an adviser to Richard Fisher at the Federal Reserve Bank of Dallas. She is author of Fed Up: An Insider’s Take on Why the Federal Reserve is Bad for America. Her website is DiMartinoBooth.com.