Gross Says September Rate Hike ‘Is On’ After August PayrollsBy
The Federal Reserve is likely to raise interest rates in September based on Friday’s August payrolls report, Janus Capital’s Bill Gross said.
“I think September is on,” Gross said in an interview on Bloomberg Television and Radio. “If these kinds of jobs (numbers) don’t do it, I’m not quite sure what does. I think September is one and done for the year.”
Payrolls climbed by 151,000 last month following a 275,000 gain in July that was larger than previously estimated, a Labor Department report showed. The median forecast in a Bloomberg survey called for 180,000. The jobless rate and labor participation rate held steady, while wage gains moderated.
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