{"id":2011,"date":"2019-11-08T01:04:56","date_gmt":"2019-11-08T06:04:56","guid":{"rendered":"https:\/\/moneytreepodcast.com\/?p=2011"},"modified":"2023-03-20T00:43:46","modified_gmt":"2023-03-20T04:43:46","slug":"federal-reserve-monetary-policy-danielle-dimartino-booth-fed-up","status":"publish","type":"post","link":"https:\/\/moneytreepodcast.com\/federal-reserve-monetary-policy-danielle-dimartino-booth-fed-up\/","title":{"rendered":"Danielle Martino- Federal Reserve,  Monetary Policy, and Central Banking"},"content":{"rendered":"<p>We love talking to Wall Street Insiders. This week we have an insider from the Federal Reserve Bank of Dallas. W<span style=\"font-size: 1em;\">e dig into why the Federal Reserve monetary policy is bad for America, but more importantly we discuss what the actual problem is&#8230; And its not what you think.\u00a0<\/span><\/p>\n<p><span style=\"font-size: 1em;\">We cover many of the problems the US Federal Reserve faces today as well as down the road.\u00a0\u00a0<\/span><\/p>\n<p><div class=\"powerpress_player\" id=\"powerpress_player_5276\"><!--[if lt IE 9]><script>document.createElement('audio');<\/script><![endif]-->\n<audio class=\"wp-audio-shortcode\" id=\"audio-2011-1\" preload=\"none\" style=\"width: 100%;\" controls=\"controls\"><source type=\"audio\/mpeg\" src=\"http:\/\/dts.podtrac.com\/redirect.mp3\/traffic.libsyn.com\/moneytreeinvesting\/MTI269_Danielle_Martino.mp3?_=1\" \/><a href=\"http:\/\/dts.podtrac.com\/redirect.mp3\/traffic.libsyn.com\/moneytreeinvesting\/MTI269_Danielle_Martino.mp3\">http:\/\/dts.podtrac.com\/redirect.mp3\/traffic.libsyn.com\/moneytreeinvesting\/MTI269_Danielle_Martino.mp3<\/a><\/audio><\/div><p class=\"powerpress_links powerpress_links_mp3\" style=\"margin-bottom: 1px !important;\">Podcast: <a href=\"http:\/\/dts.podtrac.com\/redirect.mp3\/traffic.libsyn.com\/moneytreeinvesting\/MTI269_Danielle_Martino.mp3\" class=\"powerpress_link_pinw\" target=\"_blank\" title=\"Play in new window\" onclick=\"return powerpress_pinw('https:\/\/moneytreepodcast.com\/?powerpress_pinw=2011-podcast');\" rel=\"nofollow\">Play in new window<\/a> | <a href=\"http:\/\/dts.podtrac.com\/redirect.mp3\/traffic.libsyn.com\/moneytreeinvesting\/MTI269_Danielle_Martino.mp3\" class=\"powerpress_link_d\" title=\"Download\" rel=\"nofollow\" download=\"MTI269_Danielle_Martino.mp3\">Download<\/a><\/p><p class=\"powerpress_links powerpress_subscribe_links\">Subscribe: <a href=\"https:\/\/open.spotify.com\/show\/0MUZAcz4uyQqUIdBf9LDcB\" class=\"powerpress_link_subscribe powerpress_link_subscribe_spotify\" target=\"_blank\" title=\"Subscribe on Spotify\" rel=\"nofollow\">Spotify<\/a> | <a href=\"http:\/\/tun.in\/pg0AU\" class=\"powerpress_link_subscribe powerpress_link_subscribe_tunein\" target=\"_blank\" title=\"Subscribe on TuneIn\" rel=\"nofollow\">TuneIn<\/a> | <a href=\"https:\/\/moneytreepodcast.com\/feed\/podcast\/\" class=\"powerpress_link_subscribe powerpress_link_subscribe_rss\" target=\"_blank\" title=\"Subscribe via RSS\" rel=\"nofollow\">RSS<\/a><\/p><span style=\"width: 100%;\"><a href=\"https:\/\/i0.wp.com\/moneytreepodcast.com\/wp-content\/uploads\/2019\/10\/DDB.blackwhitestanding-head-1.jpg?ssl=1\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" alt=\"\" width=\"1123\" height=\"1214\" title=\"Danielle DiMartino Booth Portraits\" data-id=\"2016\" src=\"https:\/\/i0.wp.com\/moneytreepodcast.com\/wp-content\/uploads\/2019\/10\/DDB.blackwhitestanding-head-1.jpg?resize=1123%2C1214&#038;ssl=1\" style=\"width: 100%;\" data-lazy-loaded=\"1\" data-recalc-dims=\"1\" \/><img loading=\"lazy\" decoding=\"async\" alt=\"\" width=\"1123\" height=\"1214\" title=\"Danielle DiMartino Booth Portraits\" data-id=\"2016\" src=\"https:\/\/i0.wp.com\/moneytreepodcast.com\/wp-content\/uploads\/2019\/10\/DDB.blackwhitestanding-head-1.jpg?resize=1123%2C1214&#038;ssl=1\" style=\"width: 100%;\" data-recalc-dims=\"1\" \/><\/a><\/span><\/p>\n<h2>Rumors of My Birth Are Not Greatly Exaggerated<\/h2>\n<p>By Danielle DiMartino Booth<\/p>\n<p><strong><a href=\"https:\/\/moneytreepodcast.com\/wp-content\/uploads\/2019\/11\/QI-INTRO-2019.11.4.19.pdf\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><em>This is a complimentary copy of her Daily Feather issue from November 4, 2019<\/em><\/a><\/strong><\/p>\n<p><strong>Summary:<\/strong><\/p>\n<ul>\n<li>The not seasonally adjusted BLS birth\/death model is often misrepresentedas the \u2018culprit\u2019 for exaggerated strength in payrolls givencritics compare it to the seasonally-adjusted headline number; thatsaid private-sector benchmark revisions in the year to March 2019of -0.4% are outside the +\/- 0.1% band classified as statistical noisemeaning births of 274,000 overstated strength<\/li>\n<li>Continuing jobless claims provide hard data, and are much morereliable than payrolls which are subject to long-lagged revisions;claims fell (good) at a recent peak rate of -14.2% last September,and have since risen (bad) by 2.5%, the first increase of the currentexpansion<\/li>\n<li>ASA\u2019s nine-month deterioration depicting falling temporary employmentcorroborates the continuing claims signal; high-payingjobs for workers also contracted in October, which will hit spendinggiven the top 40% of earners account for more than 60% ofconsumption<\/li>\n<\/ul>\n<p><span style=\"width: 100%;\"><a href=\"https:\/\/i0.wp.com\/moneytreepodcast.com\/wp-content\/uploads\/2019\/11\/DQ-11.7.19.png?ssl=1\" target=\"_blank\" rel=\"noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" alt=\"Federal Reserve Monetary Policy\" width=\"562\" height=\"396\" title=\"DQ 11.7.19\" data-id=\"2074\" src=\"https:\/\/i0.wp.com\/moneytreepodcast.com\/wp-content\/uploads\/2019\/11\/DQ-11.7.19.png?resize=562%2C396&#038;ssl=1\" style=\"width: 100%;\" data-lazy-loaded=\"1\" data-recalc-dims=\"1\" \/><img loading=\"lazy\" decoding=\"async\" alt=\"Federal Reserve Monetary Policy\" width=\"562\" height=\"396\" title=\"DQ 11.7.19\" data-id=\"2074\" src=\"https:\/\/i0.wp.com\/moneytreepodcast.com\/wp-content\/uploads\/2019\/11\/DQ-11.7.19.png?resize=562%2C396&#038;ssl=1\" style=\"width: 100%;\" data-recalc-dims=\"1\" \/><\/a><\/span><\/p>\n<p>\u200bPaul Revere did not ride into the Massachusetts night screaming, \u201cTheBritish are coming!\u201d Betsy Ross did not design the U.S. flag thoughshe did helpfully suggest five-pointed stars over those with six pointsfor ease of construct. The original cowboys donned derby hats, notStetsons, which weren\u2019t even in existence until 1865. The Declarationof Independence was ratified on July 4, 1776 but wouldn\u2019t be signeduntil August 2nd of that year. And the New York suicide rate fell followingthe stock market crash of 1929. There were two prominent WallStreet figures who took their lives, but there was no jumping out ofwindows. And that\u2019s just the short list of Americana myths.<\/p>\n<p>Bearish investors also cleave to a myth, one they likely will for alltime \u2013 the fabled birth\/death model. Every time there\u2019s a jobs reportwhich surprises to the upside when it\u2019s expected to disappoint, youcan set your watch to how long it takes for the birth\/death model to betrumped out to take the blame. Friday was no exception. The most stridentdevotees cumulated the additions to further exaggerate payrollsmythical strength over the past year. There\u2019s just one problem. They\u2019remonkeying with the wrong math.<\/p>\n<p>It\u2019s important to understand the intent of the number crunchers at theBureau of Labor Statistics. Measuring the number of jobs created atnew firms and companies that shutter operations is an exact exerciseonce a year when tax records are updated. <strong>So they created the birth\/death model to estimate it based on the trends of the past five years.Cyclical inflection points, however, negate the efficacy of those historicaverages, which is where we find ourselves today given private-sectorbenchmark revisions in the year to March 2019 of -0.4% are outsidethe +\/- 0.1% band classified as statistical noise. This dynamic rendersOctober\u2019s addition of 274,000 via the model overly optimistic<\/strong>.<\/p>\n<p>But here\u2019s the key that most miss \u2013 you can\u2019t simply subtract that numberfrom the 128,000 that was reported for the month, a figure that\u2019sreported on a seasonally adjusted basis given the birth-death factorsare not seasonally adjusted. The mistake, however, is made with regularityby angry masses of bears who want a simple scapegoat to explainaway the data coming in stronger than forecasts.<\/p>\n<p>More to the point, why leave it at that when there are alternativehard sources of data that can better reveal the truer underlying trendin payrolls well before revisions are reported this coming February.<\/p>\n<p>Continuing jobless claims (the red line) can get you there. This is harddata representing those who are currently receiving unemploymentbenefits, and they\u2019re reported weekly. As you can see, after troughingat a recent low of -14.2% last September, continuing claims are on therise \u2013 they\u2019re up 2.5%, <strong>t<\/strong><strong>heir first increase in the current cycle<\/strong>.<\/p>\n<p>In the last cycle, claims first rose in February 2007, a point at whichwe knew the economy was slowing as is the case today. But nonfarmpayrolls did not fall until July of that year nor did they stay in the reduntil February 2008 when we were two months into recession. This iswhy economists classify payrolls as a lagging indicator.<\/p>\n<p>As you can see, the <strong>ASA Staffing Index doesn\u2019t have a history thatstretches back to the years that preceded the last economic contraction.<\/strong>In fact, it debuted in July 2007, when non-farm payrolls first printednegative warning recession was imminent. The index then simultaneouslypeaked in December 2007 with the highest non-farm number thatwould be seen until March 2010.<\/p>\n<p><strong>If it wasn\u2019t for the corroborating continuing claims signal, we\u2019d bereluctant to assign the term \u201cdefinitive\u201d to the ASA\u2019s recent deterioration.While temporary employment has been declining for ninemonths, it lingered in contraction for an even longer stretch in the 13months through May 2016, the last industrial recession.<\/strong><\/p>\n<p>Let\u2019s let the last line, the blue line \u2013 high-paying job creation amongworkers (as opposed to managers) \u2013 be the deciding factor, bearing inmind one Jerome Powell has hung his hat on consumption sustainingthe current expansion. As a reminder, we define \u201chigh-paying\u201d as jobsexcluding Retail, Education and Health Services, Leisure and Hospitalityand \u201cOther\u201d Services.<\/p>\n<p>Presumably, consumption hinges on income and confidence in itsdurability, which thereby encourages households to take on debt, theother critical support that underpins spending. <strong>And that preconditionrelies on high-paying job creation given the top two quintiles of jobearners account for more than 60% of consumption, not just retail sales<\/strong>.<\/p>\n<p><strong>The current cycle has featured exactly three months in which high-payingjobs among workers have contracted \u2013 January and May 2016 andOctober 2019<\/strong>. You might agree the economy then and now is in differentplaces, which we hope dispels the myth of it being in a \u201cgood place.\u201d<\/p>\n<h3>Subscribe &amp; Download<\/h3>\n<p>Never miss out on a new episode! Subscribe using your favorite podcast app.<\/p>\n<p><a href=\"https:\/\/itunes.apple.com\/nl\/podcast\/money-tree-investing-podcast\/id916463101?l=en\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><\/a><a href=\"https:\/\/itunes.apple.com\/nl\/podcast\/money-tree-investing-podcast\/id916463101?l=en\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><\/a><a href=\"https:\/\/itunes.apple.com\/nl\/podcast\/money-tree-investing-podcast\/id916463101?l=en\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><\/a><a href=\"https:\/\/itunes.apple.com\/nl\/podcast\/money-tree-investing-podcast\/id916463101?l=en\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><span style=\"width: 100%;\"><\/span><\/a><a href=\"https:\/\/podcasts.apple.com\/nl\/podcast\/money-tree-investing-podcast\/id916463101?l=en\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" alt=\"\" width=\"39\" height=\"44\" title=\"Apple_podcast_logocolor__03\" data-id=\"41739\" src=\"https:\/\/i0.wp.com\/moneytreepodcast.com\/wp-content\/uploads\/tcb_content_templates\/contentblock\/images\/Apple_podcast_logocolor__03.png?resize=39%2C44\" style=\"width: 100%;\" data-lazy-loaded=\"1\" data-recalc-dims=\"1\" \/><img loading=\"lazy\" decoding=\"async\" alt=\"\" width=\"39\" height=\"44\" title=\"Apple_podcast_logocolor__03\" data-id=\"41739\" src=\"https:\/\/i0.wp.com\/moneytreepodcast.com\/wp-content\/uploads\/tcb_content_templates\/contentblock\/images\/Apple_podcast_logocolor__03.png?resize=39%2C44\" style=\"width: 100%;\" data-recalc-dims=\"1\" \/><\/a><strong>Listen on<\/strong><strong>Apple Podcasts\u200b\u200b\u200b\u200b<\/strong><a href=\"https:\/\/open.spotify.com\/show\/0MUZAcz4uyQqUIdBf9LDcB\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><\/a><a href=\"https:\/\/open.spotify.com\/show\/0MUZAcz4uyQqUIdBf9LDcB\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><\/a><a href=\"https:\/\/open.spotify.com\/show\/0MUZAcz4uyQqUIdBf9LDcB\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><\/a><a href=\"https:\/\/open.spotify.com\/show\/0MUZAcz4uyQqUIdBf9LDcB\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><span style=\"width: 100%;\"><\/span><\/a><a href=\"https:\/\/open.spotify.com\/show\/0MUZAcz4uyQqUIdBf9LDcB\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" alt=\"\" width=\"300\" height=\"169\" title=\"spotify logo2\" data-id=\"1755\" src=\"https:\/\/i0.wp.com\/moneytreepodcast.com\/wp-content\/uploads\/2019\/08\/spotify-logo2.jpg?resize=300%2C169&#038;ssl=1\" style=\"width: 100%;\" data-lazy-loaded=\"1\" data-recalc-dims=\"1\" \/><img loading=\"lazy\" decoding=\"async\" alt=\"\" width=\"300\" height=\"169\" title=\"spotify logo2\" data-id=\"1755\" src=\"https:\/\/i0.wp.com\/moneytreepodcast.com\/wp-content\/uploads\/2019\/08\/spotify-logo2.jpg?resize=300%2C169&#038;ssl=1\" style=\"width: 100%;\" data-recalc-dims=\"1\" \/><\/a><strong>Follow us on<\/strong><strong>Spotify<\/strong><a href=\"http:\/\/www.stitcher.com\/s?fid=53620&amp;refid=stpr\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><\/a><a href=\"http:\/\/www.stitcher.com\/s?fid=53620&amp;refid=stpr\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><\/a><a href=\"http:\/\/www.stitcher.com\/s?fid=53620&amp;refid=stpr\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><\/a><a href=\"http:\/\/www.stitcher.com\/s?fid=53620&amp;refid=stpr\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><span style=\"width: 100%;\"><\/span><\/a><a href=\"https:\/\/www.stitcher.com\/podcast\/money-tree-investing-podcast-stock-market-wealth-personal?refid=stpr\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" alt=\"\" width=\"84\" height=\"42\" title=\"Sitcher_radio_logo_color_03\" data-id=\"41743\" src=\"https:\/\/i0.wp.com\/moneytreepodcast.com\/wp-content\/uploads\/tcb_content_templates\/contentblock\/images\/Sitcher_radio_logo_color_03.png?resize=84%2C42\" style=\"width: 100%;\" data-lazy-loaded=\"1\" data-recalc-dims=\"1\" \/><img loading=\"lazy\" decoding=\"async\" alt=\"\" width=\"84\" height=\"42\" title=\"Sitcher_radio_logo_color_03\" data-id=\"41743\" src=\"https:\/\/i0.wp.com\/moneytreepodcast.com\/wp-content\/uploads\/tcb_content_templates\/contentblock\/images\/Sitcher_radio_logo_color_03.png?resize=84%2C42\" style=\"width: 100%;\" data-recalc-dims=\"1\" \/><\/a><strong>Follow us on<\/strong><strong>Stitcher Radio<\/strong><\/p>\n<p>Sign up to be one of our Money Tree Ultimate Insiders. You will have instant access to new episodes, automatically have access to our monthly giveaways, and the potential to be a guest panelist on our show<\/p>\n<p>\u200b<\/p>\n<p>YCharts &#8211; Smart Investment Decisions Made Simple<\/p>\n<p>We here at Money Tree Podcast use YCharts to uncover new investing opportunities, analyze trends and monitor our progress. YCharts is a powerful financial data platform designed for Individual Investors, Financial Advisors and Asset Managers. Their platform makes our lives easier. What can be better than that.<\/p>\n<p>We struck a deal for our listeners where you get free access to YCharts for a month so you can test it out.<\/p>\n<h3><strong>YCharts Of The Day:<\/strong><\/h3>\n<p><span style=\"width: 100%;\"><a href=\"https:\/\/i0.wp.com\/moneytreepodcast.com\/wp-content\/uploads\/2019\/11\/ycharts-11.8.19-PolicyShifts.jpg?ssl=1\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" alt=\"\" width=\"2000\" height=\"1167\" title=\"ycharts-11.8.19-PolicyShifts\" data-id=\"2082\" src=\"https:\/\/i0.wp.com\/moneytreepodcast.com\/wp-content\/uploads\/2019\/11\/ycharts-11.8.19-PolicyShifts.jpg?resize=2000%2C1167&#038;ssl=1\" style=\"width: 100%;\" data-recalc-dims=\"1\" \/><\/a><\/span><\/p>\n<p>This first chart looks at the Fed\u2019s policy shifts in the last decade.<\/p>\n<p><span style=\"width: 100%;\"><a href=\"https:\/\/i0.wp.com\/moneytreepodcast.com\/wp-content\/uploads\/2019\/11\/ycharts-11.8.19-FedRateChange103019.jpg?ssl=1\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" alt=\"\" width=\"373\" height=\"303\" title=\"ycharts-11.8.19-FedRateChange103019\" data-id=\"2084\" src=\"https:\/\/i0.wp.com\/moneytreepodcast.com\/wp-content\/uploads\/2019\/11\/ycharts-11.8.19-FedRateChange103019.jpg?resize=373%2C303&#038;ssl=1\" style=\"width: 100%;\" data-recalc-dims=\"1\" \/><\/a><\/span><\/p>\n<p>This second chart look at the historical performance of the S&amp;P 500 and Nasdaq after the Fed makes a change to interest rates<\/p>\n<p><span style=\"width: 100%;\"><a href=\"https:\/\/i0.wp.com\/moneytreepodcast.com\/wp-content\/uploads\/2019\/11\/ycharts-11.8.19-10-2Spread.jpg?ssl=1\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><img loading=\"lazy\" decoding=\"async\" alt=\"\" width=\"2000\" height=\"1273\" title=\"ycharts-11.8.19-10-2Spread\" data-id=\"2083\" src=\"https:\/\/i0.wp.com\/moneytreepodcast.com\/wp-content\/uploads\/2019\/11\/ycharts-11.8.19-10-2Spread.jpg?resize=2000%2C1273&#038;ssl=1\" style=\"width: 100%;\" data-recalc-dims=\"1\" \/><\/a><\/span><\/p>\n<p>The last one is how the 10-2 Treasury Spread relates to the S&amp;P 500.<\/p>\n<h3><strong>Today&#8217;s Guest: \u00a0Danielle Martino<\/strong><\/h3>\n<p><strong>Danielle DiMartino Booth is CEO &amp; Chief Strategist for Quill Intelligence LLC, <\/strong>a research and analytics firm celebrating its one-year anniversary of launching <em>The<\/em><em>Daily Feather <\/em>and the four-year anniversary of the <em>Weekly Quill<\/em>.<\/p>\n<p>&nbsp;<\/p>\n<p>DiMartino Booth set out to launch a #<em>ResearchRevolution<\/em>, redefining how markets intelligence is conceived and delivered with the goal of not only guiding portfolio managers, but promoting financial literacy. To build QI, she brought together a core team of investing veterans to analyze the trends and provide critical analysis on what is driving the markets \u2013 both in the United States and globally.<\/p>\n<p>&nbsp;<\/p>\n<p>Since inception, commentary and data from DiMartino Booth\u2019s <em>The Daily Feather <\/em>have appeared in other financial sources such as Bloomberg, CNBC, Fox Business, Institutional Investor, Yahoo Finance, The Wall Street Journal, MarketWatch, Seeking Alpha, TD Ameritrade, TheStreet.com, and more.<\/p>\n<p>&nbsp;<\/p>\n<p>A global thought leader on monetary policy, economics and finance, DiMartino Booth founded Quill Intelligence in 2018.\u00a0 She is the author of <a href=\"https:\/\/quillintelligence.us14.list-manage.com\/track\/click?u=a93505e1ffc51c4d9790b4c97&amp;id=dcbc376f33&amp;e=93c07ca37d\"><u><em><strong>FED UP: An Insider\u2019s Take on Why the Federal Reserve is Bad for America<\/strong><\/em><\/u><strong> <\/strong><\/a>(Portfolio, Feb 2017), a full-time columnist for Bloomberg View, a business speaker, and a commentator frequently featured on CNBC, Bloomberg, Fox News, Fox Business News, BNN Bloomberg, Yahoo Finance and other major media outlets.<\/p>\n<p>&nbsp;<\/p>\n<p>Prior to Quill, DiMartino Booth spent nine years at the Federal Reserve Bank of Dallas where she served as Advisor to President Richard W. Fisher throughout the financial crisis until his retirement in March 2015. Her work at the Fed focused on financial stability and the efficacy of unconventional monetary policy.<\/p>\n<p>&nbsp;<\/p>\n<p>DiMartino Booth began her career in New York at Credit Suisse and Donaldson, Lufkin &amp; Jenrette where she worked in the fixed income, public equity, and private equity markets. DiMartino Booth earned her BBA as a College of Business Scholar at the University of Texas at San Antonio. She holds an MBA in Finance and International Business from the University of Texas at Austin and an MS in Journalism from Columbia University.<\/p>\n<p><strong>Danielle&#8217;s Online Presence:<\/strong><\/p>\n<ul>\n<li><a href=\"https:\/\/quillintelligence.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Quill Intelligence<\/a><\/li>\n<li><a href=\"https:\/\/www.linkedin.com\/in\/dimartinobooth\/\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Danielle on LinkedIn<\/a><\/li>\n<li><a href=\"https:\/\/twitter.com\/DiMartinoBooth\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Danielle on Twitter<\/a><\/li>\n<li><a href=\"https:\/\/www.bloomberg.com\/opinion\/authors\/ATF5r90MXKw\/danielle-dimartino-booth\" target=\"_blank\" rel=\"noopener noreferrer\">Danielle on Bloomberg<\/a><\/li>\n<li><a href=\"https:\/\/dimartinobooth.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Learn more about Danielle<\/a><\/li>\n<\/ul>\n<h3><strong>Book References:<\/strong><\/h3>\n<ul>\n<li><a data-saferedirecturl=\"https:\/\/www.google.com\/url?q=https:\/\/quillintelligence.us14.list-manage.com\/track\/click?u%3Da93505e1ffc51c4d9790b4c97%26id%3Ddcbc376f33%26e%3D93c07ca37d&amp;source=gmail&amp;ust=1571858639733000&amp;usg=AFQjCNHm6uvOBGIJ6fg5YJiS9s12FAp98w\" href=\"https:\/\/quillintelligence.us14.list-manage.com\/track\/click?u=a93505e1ffc51c4d9790b4c97&amp;id=dcbc376f33&amp;e=93c07ca37d\" target=\"_blank\" rel=\"noopener noreferrer\"><strong><em>FED UP: An Insider\u2019s Take on Why the Federal Reserve is Bad for America<\/em><\/strong><strong>\u00a0<\/strong><\/a>by Danielle DiMartino Booth<\/li>\n<li><a href=\"https:\/\/amzn.to\/2p1N8QA\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">The Creature From Jekyll Island<\/a> by G. Edward Griffen<\/li>\n<li><a href=\"https:\/\/amzn.to\/2qsC1QZ\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">End the Fed<\/a> by Ron Paul<\/li>\n<\/ul>\n<p>\u200b<\/p>\n<h3><strong>Today&#8217;s Panelists<\/strong><\/h3>\n<ul>\n<li>Kirk Chisholm \u00a0| \u00a0<a href=\"https:\/\/www.innovativewealth.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Innovative Wealth<\/a><\/li>\n<li>Barbara Friedberg \u00a0| \u00a0<a href=\"https:\/\/barbarafriedbergpersonalfinance.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Barbara Friedberg Personal Finance<\/a><\/li>\n<li>Tim Picciot \u00a0| <a href=\"http:\/\/www.thelibertyadvisor.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">The Liberty Advisor<\/a><\/li>\n<\/ul>\n<!-- AddThis Advanced Settings generic via filter on the_content --><!-- AddThis Share Buttons generic via filter on the_content --><!-- AddThis Related Posts generic via filter on the_content -->","protected":false},"excerpt":{"rendered":"<p>http:\/\/dts.podtrac.com\/redirect.mp3\/traffic.libsyn.com\/moneytreeinvesting\/MTI269_Danielle_Martino.mp3Podcast: Play in new window | DownloadSubscribe: Spotify | TuneIn | RSSWe love talking to Wall Street Insiders. This week we have an insider from the Federal Reserve Bank of Dallas. We dig into why the Federal Reserve monetary policy is bad for America, but more importantly we discuss what the actual problem is&#8230; And [&hellip;]<!-- AddThis Advanced Settings generic via filter on get_the_excerpt --><!-- AddThis Share Buttons generic via filter on get_the_excerpt --><!-- AddThis Related Posts generic via filter on get_the_excerpt --><\/p>\n","protected":false},"author":10,"featured_media":10280,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"site-sidebar-layout":"default","site-content-layout":"default","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"default","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[19],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Danielle DiMartino Booth is Fed Up with Federal Reserve Monetary Policy<\/title>\n<meta name=\"description\" content=\"Find out why this former Federal Reserve insider says the Federal Reserve monetary policy is bad for America. 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