Grantham: Fed Manipulates Stock Market to Boost Economy
The Federal Reserve is rigging the stock market to boost the economy, and the consequences may be dire, says Jeremy Grantham, chairman of Grantham Mayo Van Otterloo.
When it comes to stocks, “What I worry about most is the Fed’s activity,” he tells CNBC.
“QE2 is just the latest demonstration. The Fed has spent most of the last 15-20 years manipulating the stock market whenever they feel the economy needs a bit of a kick.”