Janus’ Gross Sees No Rate Increase Until Late 2015 ‘If at All’
This article is for subscribers only.
Bill Gross, the former manager of the world’s largest bond fund, said the Federal Reserve won’t raise interest rates until late this year “if at all” as falling oil prices and a stronger U.S. dollar limit the central bank’s room to increase borrowing costs.
While the Fed has concluded its three rounds of asset purchases, known as quantitative easing, interest rates in almost all developed economies will remain near zero as central banks in Europe and Japan embark on similar projects, Gross said today in an outlook published on the website of Janus Capital Group Inc., where he runs the $1.2 billion Janus Global Unconstrained Bond Fund.