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Jim Grant on the election, the Fed and why he is voting for Trump

Jim Grant, founder of Grant's Interest Rate Observer, shared his views on the election, the Federal Reserve and why he is voting for Donald Trump in an exclusive interview Tuesday with CNBC's "Squawk Box."

On government regulation: "We live in this ever more grasping administrative state. And it goes on year by year. The arc for our ability to act freely is ever diminished. The state's power grows. We're on the road to serfdom," Grant said.

On the Fed and the election: "Get the Fed out of the business of manipulating everything. That to me is the hope of this day. That something will change such that people will look at things in a new way," he said.

To watch the broadcast interview in its entirety, you must be a CNBC PRO subscriber.