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Gross Says Wage Growth Not Enough to Sustain U.S. Expansion

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Bill Gross said growth in wages lagging behind increases in U.S. employment gains makes it difficult to maintain the economic expansion at a pace that the Federal Reserve would like to see to raise interest rates.

“It’s about wages” as to why the U.S. 10-year note yield is so low, Janus Capital Group Inc.’s Gross said in a radio interview on “Bloomberg Surveillance” with Tom Keene and Mike McKee. “The market is conflicted over what the Fed will do.’