“Night of the Living Fed.” That’s how famed fund manager Jeremy Grantham sums up the Federal Reserve’s actions leading up to the U.S. economic crisis. In a recent commentary, Grantham says the monetary policies embraced by Alan Greenspan, and now Ben Bernanke, are a driving force behind the financial meltdown.
Luckily for investors, it’s not all bad news. Grantham notes that as we enter the third year of a presidential cycle — in this case, 2011 — stocks, particularly high-risk stocks, are poised to rise.
Read Jonathan Burton’s Life Savings column for more on Grantham’s take on an economic horror show — if you dare.
