Many people think the time has come for the Federal Reserve to wean the U.S. economy off easy money.
They point to improvements in the jobs market, the bull market in stocks and auto sales that have rocketed higher.
But Bill Gross, the dethroned “king” of the bond markets, is taking it a step further. He argues the very existence of capitalism is threatened by the Fed’s extremely low interest rates.
“Zero percent interest rates is destructive to the real economy because capitalism can’t survive at zero percent. It wasn’t meant to be that way,” Gross, a prominent bond fund manager at Janus Capital, told Bloomberg Radio on Monday.