James Grant

James Grant founded Grant's Interest Rate Observer in 1983, publishing a twice-monthly newsletter read by hedge fund managers, bond traders, and central bankers. Grant is known for his literary, historically-informed writing style and his consistent critique of Federal Reserve monetary policy, particularly the abandonment of the gold standard. He has written multiple books including "The Trouble with Prosperity", "Money of the Mind", and biographies of financial figures. Grant's newsletter famously identified the credit excesses that led to both the S&L crisis and the 2008 financial crisis. His biography of Walter Bagehot — the Victorian-era journalist and Economist editor who articulated the lender-of-last-resort doctrine — connected his deep interest in monetary history with contemporary central banking debates, and his long-form biographies of financial figures provide readers with historical context for understanding present-day monetary and credit cycles.