Danielle DiMartino Booth

Author, Fed Up: An Insider's Take on Why the Federal Reserve is Bad for America
Federal Reserve Advisor (2006 - 2015)

The challenges of the Federal Reserve

Add to Shortlist @DiMartinoBooth
Featured Media

Biography

Danielle DiMartino Booth brings a practical main-street view on the economy and a deep understanding of Wall Street, the financial markets, and the intersection of central banking and politics. A former Federal Reserve analyst, she is the author of Fed Up, an exposé of how the Fed has abdicated its responsibility to the American people. Danielle has a gift for making finance accessible and for savvy financial forecasting.

Fed Up. Her book is a call for change in how the Fed is run. An anti-Keynesian, she criticises the Fed’s bias towards Wall Street and the ways their policies have made housing unaffordable, distorted financial incentives, stagnated wages, ballooned student debt, and failed to serve the American worker/taxpayer while pushing us toward another collapse.

From Wall Street to respected columnist to Fed Advisor. A seasoned Wall Street analyst, DiMartino Booth warned about the housing bubble when she became a financial columnist at the Dallas Morning News in the early 2000s. Despite her criticism, the Dallas Fed President was a fan of her column and asked her to join as an advisor in 2006. She left in 2015. Thus she saw firsthand how Fed leadership ignored the signs of trouble, pursued policies that fed the looming disaster, and then failed to learn from their mistakes.

Credentials. DiMartino Booth began her career on Wall Street working at Credit Suisse and at Donaldson, Lufkin & Jenrette, where she worked in the fixed income, public equity, and private equity markets. Danielle 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. She is regularly featured on CNBC and Bloomberg. Danielle currently is the president of Money Strong LLC.

Books

Fed Up

An Insider's Take on Why the Federal Reserve is Bad for America

Danielle DiMartino Booth

An insider's unflinching expose of the toxic culture within the Federal Reserve.

In the early 2000s, as a Wall Street escapee writing a financial column for the Dallas Morning News. Booth attracted attention for her bold criticism of the Fed's low interest rate policies and her cautionary warnings about the bubbly housing market. Nobody was more surprised than she when the folks at the Dallas Federal Reserve invited her aboard. Figuring she could have more of an impact on Fed policies from the inside, she accepted the call to duty and rose to be one of Dallas Fed president Richard Fisher's closest advisors.

To her dismay, the culture at the Fed — and its leadership — were not just ignorant of the brewing financial crisis, but indifferent to its very possibility. They interpreted their job of keeping the economy going to mean keeping Wall Street afloat at the expense of the American taxpayer. But bad Fed policy created unaffordable housing, skewed incentives, rampant corporate financial engineering, stagnant wages, an exodus from the labor force, and skyrocketing student debt. Booth observed firsthand how the Fed abdicated its responsibility to the American people both before and after the financial crisis — and how nobody within the Fed seems to have learned or changed from the experience.

Today, the Federal Reserve is still controlled by 1,000 PhD economists and run by an unelected West Coast radical with no direct business experience. The Fed continues to enable Congress to grow our nation’s ballooning debt and avoid making hard choices, despite the high psychological and monetary costs. And our addiction to the "heroin" of low interest rates is pushing our economy towards yet another collapse.

This book is Booth's clarion call for a change in the way America's most powerful financial institution is run — before it’s too late.

Portfolio (14 February 2017)