Episode 193: Today, Ann is joined by economist and former Fed insider Danielle DiMartino Booth to discuss what a Federal Reserve under new chair Kevin Warsh could look like – including the economic and market challenges he may inherit, and why Jerome Powell could end up being one of his biggest allies. They also dive into the disconnect between consumer sentiment and market performance, domestic manufacturing trends and whether current valuation levels reflect underlying economic reality. Plus: what Danielle is watching as the summer season heats up. Then, a spin through the headlines moving markets today – including Eli Lilly’s move to acquire three companies, Micron Technology entering the $1 trillion club, and Dropbox founder Drew Houston stepping down. Visit Schwab.com/FinancialDecoder www.brewmarkets.com Subscribe to the Brew Markets newsletter: https://www.morningbrew.com/brew-mark... Follow Brew Markets on social: Instagram: instagram.com/brewmarkets TikTok: tiktok.com/@brewmarkets X: x.com/brewmarkets Follow Ann Berry on social: Instagram: instagram.com/annberry_nyc X: x.com/AnnBerry_NYC Listen to Brew Markets Here: swap.fm/l/9Qk4z73Z2nEwFiCB4qee Watch Brew Markets Here:⁠ https://www.youtube.com/@BrewMarkets Stocks mentioned: $MU $LLY $DBX The content shared on this podcast is for informational and entertainment purposes only and should not be considered financial, legal, or investment advice. Brew Markets, Morning Brew and their hosts are not licensed financial advisors. Listeners should conduct their own research and consult with qualified professionals before making any financial decisions or investments. The views expressed are those of the hosts and guests and do not necessarily reflect the views of Morning Brew or its affiliates. This podcast may include paid endorsements or sponsorships Learn more about your ad choices. Visit megaphone.fm/adchoices

Are Markets Ignoring the Economy? & Eli Lilly Moves Beyond GLP-1s

Brew Markets

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**Podcast:** Brew Markets

## Transcript

This episode is brought to you by Charles Schwab. Timing the market, fighting inflation, managing risk, financial decisions can be tricky. Investing isn't just math, it's psychology. Your neurons are playing favorites and the market doesn't care. Financial Decoder, an original podcast from Charles Schwab, can help. Join host Mark Reapy as he breaks down practical strategies to help overcome the mental traps that may affect your investing decisions. Listen at schwab.com slash financial decoder.

Eli Lilly is on a shopping spree. We explore which therapies the global pharmaceutical giant is looking to spend its money on next. Micron Technology joins the Trillion Dollar Club to have the latest from the front lines of the AI memory boom. And coming out of a long weekend, I've invited fan favorite Daniel DiMartino Booth back to the show. The economist and Fed insider is going to help us make sense of the conflicting macro moves at play in the markets.

Tuesday, Tuesday, May 26th at Brew Markets Daily and I'm Ann Berry. More market details to come. But first, summer has unofficially kicked off. Stocks are up. Americans are spending. But consumer sentiment data shows that at some level, the way people are feeling is declining with anxiety over the job market on the rise. It's a challenging macro environment to pass through. So this morning, I welcomed Daniel DiMartino Booth back to the show to share her unique perspective on the show.

Now, Danielle is the CEO and Chief Strategist of QI Research and a former Fed insider, having worked for nearly a decade at the Federal Reserve Bank of Dallas. She describes for us the, quote, can of worms that new Fed chair Kevin Walsh is inheriting and why former chair Jerome Powell just may be his greatest ally. We also discuss the current disconnect between Wall Street and Main Street, one that has led pawn shop stocks to hit all time highs, while shares in buy now, pay later companies are feeling the pressure.

And we talk through why in this conflicted environment, her mantra to investors is trade the narrative, but own the truth. Danielle has enormous energy and insight. It's a conversation you won't want to miss coming up in just a moment. But first, this episode is brought to you by Charles Schwab. Is recency bias skewing your potential stock picks? Is attribution bias messing with your retirement plan? Overconfidence describes our tendency to overestimate our abilities. Loss aversion helps explain why losing a dollar hurts more than gaining a dollar.

Financial Decoder, an original podcast from Charles Schwab, explains how these cognitive and emotional biases can affect the decisions you make about your financial life. Host Mark Reapy, head of the Schwab Center for Financial Research, and his guests offer actionable insights on what you can do to help fight off these decision-making biases. Download the latest episode and follow at schwab.com slash Fin...

Are Markets Ignoring the Economy? & Eli Lilly Moves Beyond GLP-1s

Transcript

Built for investment professionals

Every day you wait, your competitors are finding
edge in conversations you're not hearing.

Are Markets Ignoring the Economy? & Eli Lilly Moves Beyond GLP-1s

Transcript

Built for investment professionals

Every day you wait, your competitors are findingedge in conversations you're not hearing.

Every day you wait, your competitors are finding
edge in conversations you're not hearing.