About the editor

James Grant was born in 1946, the year interest rates put in their mid-20th century lows. He founded Grant’s Interest Rate Observer, a twice-monthly journal of the financial markets, in 1983, two years after interest rates recorded their modern-day highs.

Born in New York City and raised on Long Island, he had thoughts, first, of a career in music, not interest rates—french horn was his love. But he threw it over to enter the Navy. Following enlisted service aboard the U.S.S. Hornet, and, as a newly minted, 20-year-old civilian, on the bond desk of McDonnell & Co., he enrolled at Indiana University. There he studied economics under Scott Gordon and Elmus Wicker and diplomatic history under Robert H. Ferrell. He graduated, Phi Beta Kappa, with a Bachelor of Arts degree in economics in 1970. Next came two happily unstructured years at Columbia University that produced a master’s degree in something called international affairs but, more importantly, the privilege of studying under the cultural historian, critic and public intellectual Jacques Barzun.

In 1972, at the age of 26, Grant landed his first real job, as a cub reporter at the Baltimore Sun. There he met his future wife, Patricia Kavanagh, and discovered a calling in financial journalism. It seemed that nobody else wanted to work in business news. Grant served an apprenticeship under the longsuffering financial editor, Jesse Glasgow. He moved to Barron’s in 1975.

The late 1970s were years of inflation, monetary disorder and upheaval in the interest-rate markets—in short, of journalistic opportunity. It happened that the job of covering bonds, the Federal Reserve and related topics was vacant. In the mainly placid years of the 1950s and 1960s, those subjects had seemed too dull to care about. But now they were supremely important—even interesting—and the editor of Barron’s, Robert M. Bleiberg, tapped Grant to originate a column devoted to interest rates. This weekly department, called “Current Yield,” he wrote until the time he left to found the eponymous Interest Rate Observer in the summer of 1983.

Grant’s books include two financial histories, a pair of collections of Grant’s articles and three biographies.  The titles are these: “Money of the Mind” (Farrar, Straus & Giroux, 1992), “The Trouble with Prosperity” (Times Books, 1996) “Minding Mr. Market” (Farrar, Straus & Giroux, 1993), and “Mr. Market Miscalculates” (Axios Press, 2008).

Also, “Bernard M. Baruch: The Adventures of a Wall Street Legend” (Simon & Schuster, 1983), “John Adams: Party of One” (Farrar, Straus & Giroux, 2005) and Mr. Speaker! The Life and Times of Thomas B. Reed, the Man Who Broke the Filibuster” (Simon & Schuster, 2011).
  
Grant’s television appearances include “60 Minutes,” “The Charlie Rose Show,” Deirdre Bolton’s “Money Moves” program on Bloomberg TV and a 10-year stint on "Wall Street Week". His journalism has appeared in a variety of periodicals, including the Financial Times, The Wall Street Journal and Foreign Affairs, and he contributed an essay to the Sixth Edition of Graham and Dodd's “Security Analysis” (McGraw-Hill, 2009).

Grant is a 2013 inductee into the Fixed Income Analysts Society Hall of Fame. He is a member of the Council on Foreign Relations and a trustee of the New-York Historical Society.

He and his wife live in Brooklyn. They are the parents of four grown children.

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About James Grant

James Grant founded Grant's Interest Rate Observer in 1983 following a stint at Barron's, where he originated the "Current Yield" column.

His books include works of financial history, finance and biography. They are: “Bernard M. Baruch: The Adventures of a Wall Street Legend” (Simon & Schuster, 1983); “Money of the Mind: Borrowing and Lending from the Civil War to Michael Milken” (Farrar, Straus & Giroux, 1992); “Minding Mr. Market” (Farrar, Straus & Giroux, 1993); “The Trouble with Prosperity” (Times Books, 1996);  “John Adams: Party of One” (Farrar, Straus & Giroux, 2005); “Mr. Market Miscalculates” (Axios Press, 2008); and “Mr. Speaker! The Life and Times of Thomas B. Reed, the Man Who Broke the Filibuster” (Simon & Schuster, 2011).

 

Books by James Grant View All

The Forgotten Depression: 1921: The Crash That Cured Itself

By the publisher of the prestigious Grant’s Interest Rate Observer, an account of the deep economic slump of 1920–21 that proposes, with respect to federal intervention, “less is more...

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Mr. Speaker!: The Life and Times of Thomas B Reed, the Man Who Broke the Filibuster

“It is good to have this excellent biography of Thomas Reed, a vastly underappreciated major figure in American political history...

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Mr. Market Miscalculates:The Bubble Years & Beyond

“James Grant’s Mr. Market Miscalculates may well be the most perceptive book on the current financial crisis yet published...

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Bernard Baruch: The Adventures of a Wall Street Legend

The life and times of the renowned investor, venture capitalist and Democratic political operative...

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Hand-Picked Grant's

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The road to confetti

April 15 comes and goes but the federal debt stays and grows...

No, not Treasurys

"Normalization is a good thing. Rates going up is a good thing...

Credit the yield

Now under way is a reprise and a report: a reprise of a couple of familiar yield-bearing Grant's favorites and a report on the state of small-business credit...

For the repressed

For the people at the receiving end of zero percent interest rates and quantitative easing, "inflation is not that dead...

Insider to outsider

"There are probably more dangerous words in the English language than 'data dependence,' but I don't think any said with this frequency…...

Advice at a price

If it's financial advice you want, you could ask a Nobel Prize-winning economist...

A political animal

"China doesn't devalue. The US doesn't tighten. Détente."

Solvency not liquidity

"Budgets have been out of whack and unbalanced for 10 years straight and they have been balanced with borrowing...

Bullish on Oil

Standing before the Grant's crowd, a bear on oil before the deluge, declares that the bottom is in...

Not enough gold

With progress in mining technology at a standstill, "the problem that the industry faces is really daunting when you look at the demand curve...

Short and a long

It was the short that caught the Grant's audience's fancy. "It is a poor steward of capital and a poor investor of capital...

Next for Japan

"In the face of all-time high profits, there is record-high cash-hoarding...

South of the border

The stars are profitably aligned for U.S. investors in Latin America...

For a monetary encore

Expectations run high for this pioneer in radical policy to do more – but what more can it do?

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