James Grant: “The Fed has created a high-yield bond market without the yield.”

I believe that the Fed ought to be doing much less than what it is doing, and it could do with many fewer economists.

I would keep the mandate even simpler than one. I would say that the Fed ought to be in business to support an objective definition of the value of the dollar.

I said, ‘Get on the ground. Get on the ground. Get on the ground. Get on the ground.

I see a bubble in Treasury securities. I see a bubble in sovereign debts worldwide.