Gross Says Fed Move May Be ‘Too Little Too Late’ Amid Turmoil

Bill Gross said the Federal Reserve has waited so long to raise interest rates that any move now may be labeled “too little too late” as market turmoil restricts the room for policy makers to act.

“The ‘too late’ refers to the fact that they may have missed their window of opportunity in early 2015, and the ‘too little’ speaks to my concept of a new neutral policy rate which should be closer to 2 percent nominal, but now cannot be approached without spooking markets,” Gross wrote in an investment outlook Wednesday for Denver-based Janus Capital Group Inc.