Jeremy Grantham was interviewed on CNBC today and he is increasingly pessimistic about monetary policy. Grantham says the Fed does little more than manipulate markets:
“The Fed has spent the majority of the last 15 years manipulating the market”
Grantham is concerned that the Fed will succeed with QE2 and that it will ultimately result in one massive bubble. The full interview is attached below:
Mr. Roche is the Founder and Chief Investment Officer of Discipline Funds.Discipline Funds is a low fee financial advisory firm with a focus on helping people be more disciplined with their finances.
He is also the author of Pragmatic Capitalism: What Every Investor Needs to Understand About Money and Finance, Understanding the Modern Monetary System and Understanding Modern Portfolio Construction.