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October 22, 2012 at 09:23 AM
Bill Gross is again making waves (or tweets) ahead of the Federal Reserve’s much-anticipated statement set for later this week.
Gross, known for his flowery prose in extended outlooks he posts each month to PIMCO’s website, has nonetheless effectively leveraged the social media site to make his points.
“Gross: Fed merry-go-round: inflate stocks til 2000. Then inflate housing til 2007. Then inflate stocks til 2012. Now inflate housing again,” Gross tweets in his latest.
Criticizing the Fed for its now two-decade old policy of inflating housing and stocks, and jumping back and forth between the two, follows on other recent criticisms of the governing body made by Gross, head of the world’s largest bond shop, which has an estimated $1.8 trillion currently in assets under management.
The meeting of the Federal Reserve scheduled for this week is unlikely to reveal any new policy prescriptions to help the struggling economy, especially after last month’s announcement of the widely-expected “QE3,” but will still be closely watched.
