Gross: Yellen’s Testimony Was Measured

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Feb. 11 (Bloomberg) –- Pimco Co-Founder and Co-CIO Bill Gross discusses Janet Yellen’s testimony before Congress with Trish Regan on Bloomberg Television’s “Street Smart.” (Source: Bloomberg)

Your reaction today.

How would you characterize your testimony?

I think she is holding some of that firepower back for a march fed meeting.

She will have a greater chance to elaborate in terms of press conference and q&a. i think this was a measured consensual type of statement that a firm date transition.

To that extent, i think she was successful.

Do you anticipate consistency?

Do you anticipate a fed that will continue in line with the policies mr.

Bernanke set up?

I think so.

Perhaps more emphasis as i suggested in my tweet on inflation as opposed to unemployment.

She did suggest that unemployment alone was not sufficient to change the policy rate.

That there would be number of factors whether it was wage gains or the data we saw this morning.

In any case, a future focus on inflation has opposed to unemployment.

Perhaps down the road, something specific.

We will see some changes, but i think for the moment, continuity . are we going to get

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