Taps Coogan – September 26th, 2022

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Mr. Jim Grant, creator and editor of the esteemed Grant’s Interest Rate Observer, recently spoke with Wealthtrack’s Consuelo Mack about his outlook for inflation and markets.

 

Some excerpts from Jim Grant:

“The Fed demonstrated through its actions and its professions over this many years that it has no better idea of the economic future than I do. The future to me is a closed book… There ain’t no such thing as macro-economic science but there is something called macroeconomic pseudoscience and at that, the Fed is a passed master.”

“This inflation could not have happened but for the policies of central banks… The Chairman of the Fed himself give a couple of talks in 2020 just urging on the opening up of the fiscal pipelines, of just flooding the country with stimulus of all kinds… it was flogging this horse in both ways (monetary and fiscal)…”

“The Taylor rule proscribed a Fed Funds rate of 10% last year. The Fed was conducting aggressive… quantitative easing to add liquidity as recently as March of this year when the inflation rate was raging… It might be too late…”

“Price and value are coming back as a commanding factor in success in investing. It has not been for many years. What you wanted to be was reckless… but I like it when people abandon ideas that are so commonsensical as value investing… I like to be in the minority of a good idea than the majority of a bad idea.”

There is much more to the interview, so enjoy it above. 

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