Pacific Investment Management Co.’s Bill Gross said the Federal Reserve is unlikely to raise interest rates for two to three years.
Gross, Pimco’s founder and co-chief investment officer, made the comments in a radio interview today with Tom Keene on Bloomberg Surveillance. A yield of 0.50 percent on two-year Treasury notes signals that investors should buy longer-maturity securities, he said.
Companies in the U.S. added workers in July for a seventh straight month at a pace that suggests the labor-market recovery will be slow to take hold.
