Danielle DiMartino Booth: “America Is Already In A Recession”

Danielle DiMartino Booth joins Darrell to examine the growing cracks beneath the U.S. economy. She discusses Kevin Warsh’s early approach at the Federal Reserve, unreliable employment data, declining labor-force participation, rising bankruptcies and the pressure facing heavily indebted consumers. Danielle also explains why corporate layoffs could accelerate, how high borrowing costs are freezing the housing market, why gold may be approaching an attractive entry point and whether the AI investment boom can continue.

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00:00 Introduction

00:35 Kevin Warsh’s approach to the Federal Reserve

03:18 The outlook for interest rates

05:22 Problems with U.S. employment data

07:00 Young Americans delaying household formation

08:16 Bankruptcies surge across the economy

09:13 Record car payments and consumer stress

10:22 Credit cards, auto loans and falling savings

11:57 Is the U.S. already in a recession?

12:50 Corporate hiring freezes and tech layoffs

14:29 Inflation data and real-time price measures

15:37 Why officials have not declared a recession

17:29 Gold’s consolidation and potential entry point

18:55 Rising bond yields and government borrowing

19:55 Mortgage rejections and falling home prices

20:48 Inventory restocking and the credit cycle

22:58 Imports, inventories and weak GDP growth

24:10 Is the AI capital-spending boom sustainable?

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