In an interview, airing Jan 17th at 10am ET on Bloomberg Radio, Janus Capital's Bill Gross said to Bloomberg's Barry Ritholtz:
- Fed officials had to do something to free up frozen credit markets.
- Disagrees with Fed's zero-interest rate policy, would have stopped cutting rates at 1-percent.
- Congress should have put into effect a full stimulus plan after the 'Great Recession'
- 10-year bond should be yielding closer to 3 percent, not under 2 percent looking like it wants to go lower; why interest rates should be gradually raised by the Fed over the next 2 to 3 years, a t least to 2 percent, possibly 3 percent.
- U.S. should take advantage of low rates to repair America's crumbling infrastructure, create jobs and stimulate the economy.
- He has no plans to retire, "this is what I do... I am very competitive and I want to show the world my track record was not a fluke."
Additionally, as reported yesterday by Bloomberg's Mary Childs [http://bloom.bg/1BUvo6k], Gross confirmed to Ritholtz that Pimco fired him after offer to scale back role, "For some reason still unbeknownst to me, they didn't think that was a good idea and they did fire me...In the last few weeks, it blindsided me; I had no idea that an executive committee could fire a founder and the titular leader of the company."
To read Barry's Bloomberg View column with more highlights from the interview: http://www.bloombergview.com/articles/2015-01-13/bill-gross-speaks-about-getting-fired-at-pimco
Courtesy of Bloomberg Radio Interview with Barry Ritholtz
Full interview airs on Bloomberg Radio Jan. 17th at 10am ET and will be made available at www.bloombergview.com
For more information including where to listen: http://www.bloomberg.com/radio