Bill Gross Vs the FED
7 mins. to read
Bill Gross from Janus Capital (ex:PIMCO) has heavily criticised central banks for failing to foresee the consequences of conducting a zero interest rate policy (ZIRP) for too long. They’re destroying “the savings function of capitalism, which is a necessary and in fact a synchronous component of investment”, as “accustomed to Taylor Rules and Phillips Curves,…