James Grant

James Grant, Founder of "Grant’s Interest Rate Observer"

James Grant, Jim Grant, Tim

Jim Grant's presentation of his new biography, *Bagehot*, examines the Victorian financial journalist's legacy while critiquing modern central banking through the lens of negative yields and the Fed's dual roles as "arsonist and fireman." Grant warns that thirty-eight years of bond bull market muscle memory and artificial suppression of interest rates have created global debt anomalies where $14.5 trillion in bonds yield less than zero, effectively socializing risk for investors. BlackRock's Rick Reeder contextualizes these findings within the "Monetary Policy Endgame," though the firm clarifies that their stance remains nuanced rather than strictly bearish on fixed income.