Jim Grant of Grant’s Interest Rate Observer was on Bloomberg’s Surveillance with Tom Keene this morning.And as usual, he slammed the Federal Reserve for maintaining its low interest rate policy.
Here’s Grant’s response when asked when Bernanke should raise rates to get back to a normal economy.
[Eric Rosengren of the Boston Federal Reserve] will have a different line of work when I take over the Fed.”
Earlier this month, Rosengren had floated the idea of unleashing a quantitative easing program that would involve unlimited bond-buying in an effort to keep interest rates as low as possible.
Here’s the whole interview: