Jim Grant on making interest rate forecasts

Q: A friend once said, “It’s okay to forecast the end of the world, just don't ever give a date.”  When people ask you about timing, what do you tell them? 

A: Oh, I’ve become very wily.  Years ago, someone asked me to forecast the 10-year yield one year hence, and I had the presence of mind to say no, thank you.  I count that as my journalistic coming of age.  Only rookies pick levels and dates.

~ Jim Grant, The Austrian, January-February 2021