Bill Gross

Frontrunning: September 19

  • Markets Brace for Fed’s Big Move: The End of Easy Money (WSJ)
  • Senate GOP Has 12 Days to Repeal Obamacare and No Room for Error (BBG)
  • Senate GOP Considers a Trillion-Dollar-Plus Tax Cut for Budget (WSJ)
  • In first speech at U.N., Trump to single out North Korea, Iran (Reuters)
  • Trump to Push Nationalist Policy in First U.N. Address (WSJ)

BIll Gross: Beware The "Unknown Consequences Lurking In The Shadows"

"the adherence of Yellen, Bernanke, Draghi, and Kuroda, among others, to standard historical models such as the Taylor Rule and the Phillips curve has distorted capitalism as we once knew it, with unknown consequences lurking in the shadows of future years."

Why The Fed Will Fail Once Again

"The Fed’s bungling should come as no surprise... The Federal Reserve has done almost nothing right for at least the past twenty years, if not longer."

Albert Edwards: "Citizens Will Soon Turn Their Rage Towards Central Bankers"

"In an age of “radical uncertainty” how long will it be before angry citizens tire of blaming an impotent political system for their ills and turn on the main culprits for their poverty – unelected and virtually unaccountable central bankers? I expect central bank independence will be (and should be) the next casualty of the current political turmoil."