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cover of episode Danielle DiMartino Booth: The Fed's Impossible Dilemma

Danielle DiMartino Booth: The Fed's Impossible Dilemma

2025/4/23
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Danielle DiMartino Booth: 我认为美联储对当前经济形势的应对是失败的。早在贸易战之前,美国经济就已经显现出疲软的迹象,例如公司营收持续下降,这表明经济已经遭受重创。美联储未能及时识别并解决这些问题,反而加剧了经济下行压力。 此外,关税政策也对经济造成了负面影响,特别是对小型企业而言,他们无力承担不断上涨的进口成本。企业难以将成本转嫁给消费者,导致利润率下降,甚至破产。 住房市场降温,住房成本下降,这本应缓解通货膨胀压力,但美联储似乎对此反应迟钝。同时,10年期国债收益率的波动以及美元与黄金的走势都反映出市场对经济前景的极度不确定性。 美联储的货币政策滞后于经济现实,即使采取行动,也可能收效甚微。他们面临着两难境地:如果出手相救,会被认为是屈服于政治压力;如果不采取行动,经济下行压力将进一步加大。 信贷市场中,非存款金融机构的贷款增长迅速,这预示着潜在的风险。一旦出现流动性短缺,市场波动将加剧,美联储将面临更大的压力。 黄金市场也反映出全球经济的不确定性。各国央行增持黄金,这表明他们对未来经济走势缺乏信心。 总而言之,当前的经济困境是长期存在的结构性问题造成的,美联储的政策失误加剧了这一困境。美国需要更强有力的领导和更有效的经济政策,才能应对当前的挑战。

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Guy is joined by Danielle DiMartino Booth, CEO and Chief Strategist at QI Research, joins to discuss Federal Reserve policies and their impacts on the U.S. eco nomy. The conversation starts with the current political tension surrounding Fed Chairman Jerome Powell and the administration's frustrations with him. Danielle highlights her disappointment with the Fed's handling of the economy, citing missed revenue targets as an indicator of pre-existing economic stress before the ongoing trade war. The discussion explores the inefficacy of tariffs, the complex dynamics of ten-year yields, and the significant issues of rising bankruptcy rates. Danielle also touches on the shifting trends in the bond and gold markets, the currency exchange rate crisis, and the increasing importance of liquidity in financial markets. With a call for stronger leadership and a critique of current economic policies, this episode offers a thorough analysis of the broader economic landscape and the challenges facing the Federal Reserve.

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