James Grant: The Fed Is Now Hostage To Wall Street

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James Grant: The Fed Is Now Hostage To Wall Street
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James Grant: The Fed Is Now Hostage To Wall Street by Christoph Gisiger, Finanz und Wirtschaft Below is a brief excerpt reposted with permission

James Grant, Wall Street expert and editor of the investment newsletter “Grant’s Interest Rate Observer”, warns of a crash in sovereign debt, is puzzled over the actions of the Swiss National Bank and bets on gold.

From multi-billion bond buying programs to negative interest rates and probably soon helicopter money: Around the globe, central bankers are experimenting with ever more extreme measures to stimulate the sluggish economy. This will end in tears, believes James Grant. The sharp thinking editor of the iconic Wall Street newsletter “Grant’s Interest Rate Observer” is one of the most ardent critics when it comes to super easy monetary policy. Highly proficient in financial history, Mr. Grant warns of today’s reckless hunt for yield and spots one of the biggest risks in government debt. He’s also scratching his head over the massive investments which the Swiss National Bank undertakes in the US stock market.

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Jim, for more than three decades Grant’s has been observing interest rates. Is there anything left to b