Gross to the Fed: 'Get off zero now'

Bond manager criticises rate rise delay

Laura Dew
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Veteran bond manager Bill Gross has urged the Federal Reserve to move quickly on rate rises, despite the short-term pain this may cause.

The Federal Reserve decided to hold off raising rates at its latest meeting as it felt global headwinds overshadowed the stronger US economic picture. Industry figures now believe its December meeting would be the next most likely opportunity. Writing in his monthly outlook, Gross (pictured), who manages the $1.4bn Janus Global Unconstrained fund, said the long-term impact of a rate rise would compensate for any potential short-term pain. Why the Fed is in serious danger of hubris He said: "My advice to them is this: get off zero and get off quick. Will 2% Fed funds harm corporate ...

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