The Fed decided not to cut rates in a closely watched FOMC decision on Wednesday. Former European Central Bank President Jean-Claude Trichet and Jim Grant, founder and editor of Grant's Interest Rate Observer, join "Squawk Box" to discuss the central bank's wait-and-see approach.
James "Jim" Grant is an American writer and publisher and the founder of Grant's Interest Rate Observer, a twice-monthly journal of the financial markets. He is the author , most recently, of The Forgotten Depression: 1921: The Crash That Cured Itself. Grant's television appearances include "60 Minutes," "The Charlie Rose Show," Bloomberg TV, CNBC and other well-known financial news sources. His journalism has appeared in a variety of periodicals, including the "Financial Times", "The Wall Street Journal" and "Foreign Affairs."