Fed critic James Grant on QE policy and contagion risks from Cyprus

Excellent discussion with Jim Grant, Grant’s Interest Rate Observer, on why he thinks the Fed’s interest rate policy is partially to blame for the slow recovery. On the market’s apparently supreme faith in the magic of Central Bankers: “It’s astonishing that after so many years of demonstrated human error on the part of these Mandarins, that people still seemingly trust them. But they do. For now. They won’t always.“ Here is a direct link.