Bill Gross - Although it is agreed that QE must end as it distorts incentives and inflates asset prices to artificial levels, the Fed's plan to taper may be too hasty, says Bill Gross, Managing Director at PIMCO. The Fed's view of the economy is 'fogged' as they do not see the structural impediments that will inhibit its ability to achieve higher growth, inflation and lower unemployment, says Gross. High levels of leverage have made the global economy far more sensitive to interest rates and if the Fed were to taper suddenly, economic growth would stifle. (VIEW LINK)
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