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Welcome back to The Breakdown.

It is Thursday, April 30th.

Yes, we have made it through a full lockdown month.

And today we are talking about the Fed.

My guest today is Danielle DeMartino Booth.

Danielle is the CEO and chief strategist for Quill Intelligence, which is a market

research and analytics firm. She is the author of Fed Up, an insider's take on why the Federal

Reserve is bad for America. Now, importantly, and one of the things that makes Danielle's

perspective so unique on this front, is that she spent nine years at the Federal

Reserve Bank of Dallas where she served as an advisor to President Richard W. Fisher.

This was through the financial crisis until March 2015.

As you can imagine, Danielle's perspective on the Fed then is informed not just from hang out on Twitter and in-market

analysis conversations, but through actually seeing the inner workings of this institution,

which has, as we've seen, such a dramatic impact on our lives. We talked today about why the

monetary policy regime we've been living under for the last 10 years is the largest

monetary policy experiment in history. We talk about why 2019 was setting up 2020 for some

serious economic trouble in the context of declining world trade even before coronavirus hit.

We talk about the mass expansion of facilities for the Fed in the context of the

coronavirus and get into why many of those facilities are actually potentially broaches of the Federal

Reserve Act and in fact threaten the fundamental independence of the Federal Reserve as an

...