Bill Gross: The Fed Has Failed

Bill Gross, the so-called Bond King, used his monthly letter to take the Federal Reserve to the woodshed. He took a shot at Donald Trump as well.

The Janus Capital fund manager argued in his letter that the Fed’s policy of keeping interest rates low for years has failed to significantly boost the economy. He also noted that the central bank and its model for the economy have become “increasingly addled.” Gross writes in the letter, “Why after several decades of 0% rates has the...

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