Gross tells Fed: Get Off Zero Now!

24.09.2015 / 03:27

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Bill Gross said the Federal Reserve needs to raise interest rates as soon as possible, trading some near-term market losses for longer-term stability and a healthier financial system.

If zero interest rates become the long-term norm, economic participants will soon run on empty because their investments aren’t producing the gains or cash flow needed to finance past promises in an aging society, he wrote on Wednesday.

“My advice to them is this: get off zero and get off quick,” Gross urged the central bankers. He said it’s time for a “new thesis” that allows people in developed economies to save, enabling liability-based business models to survive and spurring more private investment.

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Gross tells Fed: Get Off Zero Now!

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