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Another Round of Fed Easing Is a 'Done Deal': Bill Gross
The Federal Reserve will definitely move to ease monetary policy further, Bill Gross, Pimco’s co-founder, told CNBC’s “Closing Bell” on Thursday. “What the Fed (explain this) minutes told us is additional easing (explain this) might be warranted ‘fairly soon’ unless the incoming data pointed to a sustainable strengthening of the economy,” Gross said. Gross said the "sustainable strengthening" language is important. “I think we need to see months of 3 percent or better gross domestic product growth before the Fed backs off that particular provision,” he added. When the Fed does move, Gross is expecting “a relative open-ended program in terms of size, in terms of time and in terms of what the asset classes is they buy.” He added, that being open-ended will give the Fed the flexibility to modify their posture "even in the face of a strengthening economy." (Read More: More Easing Not Needed If Growth Holds Up: Fed's Bullard.) ... Continue to read.
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