Gross Says Job Gains Mean 50% Odds of December Fed Taper

Bill Gross, manager of the world’s biggest bond fund, said the pace of payroll growth in November signals there a 50 percent chance the Federal Reserve will begin tapering its monthly bond purchases this month.

“It’s at least 50-50 now,” Pacific Investment Management Co.’s Gross said in a radio interview on “Bloomberg Surveillance” with Tom Keene and Mike McKee. “There was some logic for a January starting point, but it’s clear the Fed wants out. The Fed still has to be careful even when they begin to taper,” given the recent pace of growth has produced growth at only about 2 percent so far, he said.