Jim Grant – Fed Centric Markets Scary
“You know what else is scary, is that we seem to be so Fed-centric. Since when is a central bank the principle fundamental in financial markets or an economy? Does everything really ride on the syntax or the judgment, or let’s be frank, the guesswork of these well-intended scholarly people?” Grant asked rhetorically.
A bit later Grant strikes a familiar chord: “The Fed has a definite impact. It might not be the one they intend,” he said. Watch the video to see the rest of that important thought.