Fed Is Just Improvising Policy (Video)

Jim Grant explained to CNBC that the policies of the Federal Reserve are going to lead to a market crash. In particular, Grant chided the Fed for its complete lack of foresight and inability to learn from the past. Grant likened the Fed to a referee who has chosen to join in the game – it’s irresponsible and dangerous.

“It is now year six of this monetary improv. A couple years ago, Chairman Bernanke said, ‘We’re learning by doing.’ Learning by doing? There are thousands of years of monetary history which they might have consulted, instead we are making it up as we go along.”

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