Just a matter of time.
Federal Reserve policies are progressively having less impact, and by this time next year (July, 2013) we'll see unemployment higher than today's 8.2 percent, Pimco co-founder Bill Gross told CNBC's "Street Signs" on Wednesday.Yup.
While the Fed could cut interest rates on reserves or adopt quantitative easing - whereby the Fed buys financial assets to inject a more money into the economy - among other policies, Gross said "interest rates are close to rock bottom at the front end of the curve and there's little the Fed can do there."
Friday, July 5, 2013
For What It's Worth: Bill Gross/PIMCO -- Unemployment Prediction
This was posted almost exactly one year ago.
Posted by Bruce Oksol at 10:22 PM