Democratic Strategist Kobi Tirey tries to give Donald Trump a little credit on unemployment and inflation for once, but Banker Bill isn't buying it. The dollar's weak, and a weak dollar means a weak America. At least crypto, gold, and China aren't looking any stronger. Kobi and Bill also ask, with DOJ resignations piling up, especially in the antitrust division, is this the golden age of white collar crime?

Is It Bad For The Economy Super Fans,

I present to you a Fed-free, tariff-free, and most importantly, Trump-free episode of Is It Bad For The Economy, out now on Apple Podcasts, Spotify, YouTube, and Substack.

We crammed all that into our emergency episode over the weekend about the highs and lows of Fed Chair nominee Kevin Warsh’s Friday. It’s the first-ever on-camera appearance of Banker Bill!

In this episode, Banker Bill and I were joined by an AI true believer, Venture Capitalist, and my old friend Nick Giometti. He went deep on the current state of AI and why we need to start worrying about the economic implications now. With AI’s impact on employment possibly already showing up in the data, Nick is eager to start a policy conversation where regulation and taxes are on the table as long as innovation isn’t compromised. He’s the one man in America actually trying to think through the consequences of his actions, and those of his entire industry, ahead of time.

It’s bold, it’s urgent, and it’s sincere. So, so sincere. That’s why Banker Bill and I did our absolute best to get out of his way.

Yesterday’s Friday news dump was torrential. Journalists were arrested, troubling details about the FBI’s Georgia election raid came out, Trump launched a $10 billion lawsuit against the IRS, Catherine O’Hara passed away, and, of course, Kevin Warsh’s nomination for Fed Chair and the Epstein files.

Kevin Warsh’s day was particularly dramatic. First thing in the morning, he was nominated to succeed Jerome Powell as Fed Chair. By afternoon, he had been named in the Epstein files.

Democratic Strategist Kobi Tirey and the anonymous Banker Bill break it down in an emergency episode.You can find Is It Bad For The Economy as always on YouTube, Apple Podcasts, Spotify, on Substack.

Trump's DOJ is risking both a constitutional and an economic crisis by executing grand jury subpoenas to the Federal Reserve regarding perjury allegations against Chair Jerome Powell. So what did Powell allegedly lie about? A water feature, a beehive, and a garden. Democratic strategist Kobi Tirey wants you to know that this is all about interior design, and Powell could not have been more honest. Meanwhile, Banker Bill is ready for whatever happens next with a bureaucratic breakdown of every possible scenario in the race to replace Powell.

Trump invaded Venezuela for the oil, right? It might be illegal, but at least it's going to pay for itself, right?

Trump tries to drink Venezuela's oil milkshake right up, while Democratic Strategist Kobi Tirey tries to blame private health insurance providers for America's skyrocketing healthcare costs on the eve of yet another shutdown.

It brings Banker Bill absolutely no pleasure to report that both operations are destined to come up empty.

Compound interest might be the 8th Wonder of the World, but what if it's Trump branded? Listener Craig asks whether MAGA is just using the Trump accounts to juice the stock market before the midterms. The anonymous Banker Bill says not a chance, but Democratic strategist Kobi Tirey has a bigger question: What if all of these retirement savings we're pumping into our 401Ks by default every month is why the economy is so high on its own supply in the first place?

Is It Bad For The Economy's Banker Bill keeps an eye on Japan, says good bye to the penny, and isn't worried about Elon's package. Meanwhile, Wall Street and Trump may have given up on getting inflation back down, but Democratic strategist Kobi Tirey never will.

Wall Street Journal Trade and Economic Policy Reporter Gavin Bade joins Democratic Strategist Kobi Tirey and Banker Bill to talk about pasta tariffs, insider trading, vibe checking the 1%, and China's "cobbler elves."

Read More From Gavin: https://www.wsj.com/news/author/gavin-bade