Economics
Bill Gross, Mohamed El-Erian Warn Against Counting the Fed Out
- U.S. rate increase may come in June as wages rise, Gross says
- El-Erian, Kiesel, Dudley say two Fed moves possible this year
Bill Gross: Fed May Still Raise Rates in June
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Three of the world’s most influential bond investors say the Federal Reserve is still on course to raise interest rates this year, a view the head of the New York Fed signaled could happen twice -- even after April’s smaller-than-predicted gain in jobs.
Bill Gross, former manager of the biggest bond fund, said policy makers may act at their next meeting in June. Mohamed El-Erian, chief economic adviser at Allianz SE and a Bloomberg View columnist, said the Fed may move twice this year. Mark Kiesel at Pacific Investment Management Co. and New York Fed President William Dudley echoed the comments.