Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Fed Unlikely to Raise Rates for 12 Months, Pimco’s Gross Says

Don't Miss Out —
Follow us on:
PIMCO's Bill Gross
Pacific Investment Management Co.’s Bill Gross. Photographer: Andrew Harrer/Bloomberg

Feb. 4 (Bloomberg) -- The Federal Reserve is unlikely to raise interest rates for at least 12 months because the U.S. economy isn’t generating enough growth to lower unemployment, Pacific Investment Management Co.’s Bill Gross said.

The Fed would probably like to see the economy adding at least 200,000 jobs a month before considering rate increases, Gross said in a radio interview on “Bloomberg Surveillance” with Tom Keene.

The U.S. jobless rate unexpectedly fell in January to the lowest level since April 2009, while payrolls rose less than forecast, depressed by winter storms.

Unemployment declined to 9 percent last month from 9.4 percent in December, the Labor Department said today in Washington. Employment rose by 36,000 workers, the smallest gain in four months, after a 121,000 rise in December that was larger than initially reported. Payrolls were projected to climb 146,000, according to the median forecast in a Bloomberg News survey.

Link to Company News:{21429Z US <Equity> CN <GO>} Link to Company News:{PTTRX US <Equity> CN <GO>}

To contact the editor responsible for this story: Dave Liedtka at dliedtka@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.