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The Fed’s Decision Was So Bad—–Even Bill Gross Was Speechless

Thursday, September 22, 2016 13:26
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davidstockmanscontracorner.com / By Michelle Fox via CNBC • 

After the Federal Reserve decided to leave interest rates unchanged, bond guru Bill Gross told CNBC he was barely able to speak.

“I’m choked with emotion and hardly able to speak,” the portfolio manager at Janus Capital Management said in an interview with CNBC’s “Power Lunch.”

“After hawkish talk at Jackson Hole from [Fed Chair] Yellen and [Vice Chair] Stan Fischer, who even said there’d be two hikes in 2016, they’ve chosen to defer once more a necessary hike to normalize short-term interest rates and provide savers, in my view, with at least a bit of thin gruel to work with to provide for education, retirement and health-care needs.”

He believes the contradiction between what Fed officials have said leading up to the meeting and the outcome of the gathering is leaving investors “very confused.”

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The post The Fed’s Decision Was So Bad—–Even Bill Gross Was Speechless appeared first on Silver For The People.

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