QE3 From Fed ‘Almost a Done Deal,’ Pimco’s Gross Says on CNBC

A third round of economic stimulus from the Federal Reserve is “almost a done deal,” Pacific Investment Management Co.’s Bill Gross said in an interview on CNBC.

Gross, manager of the world’s largest bond fund at Newport Beach, California-based Pimco, wrote yesterday in a Twitter posting that released Fed minutes were “front-end curve friendly” and that a third round of quantitative easing, or QE3, is an 80 percent probability.