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Pimco’s Gross Says Fed May ‘Hint’ at QE3 to Cap Rates

Pacific Investment Management Co.’s Bill Gross, manager of the world’s biggest bond fund, said in a Twitter posting that the Federal Reserve may hint in August of plans for additional monetary stimulus.

“Next Jackson Hole in August will likely hint at QE3/interest rate caps,” he wrote referring to the Fed’s annual symposium in Jackson Hole, Wyoming, in a 10:24 a.m. message.