Bond guru Bill Gross has taken straight aim at the Federal Reserve and its Chairman Ben Bernanke, charging that ultra-loose monetary policies are holding back the economic recovery.
In his monthly letter to investors, Gross, who heads fixed-income giant Pimco and its $2 trillion in assets under management, uses unusually blunt language to convey his feelings about historically aggressive central bank easing measures.
While he concedes that the Fed isn’t getting help from Washington and its fiscal mess, he said the central bank’s easing programs are only complicating matters.
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