Janus Henderson’s Gross: Phillips Curve ‘Appears to Be Broken’
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Source: BFW (Bloomberg First Word)
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William Hunt Gross "Bill" (Janus Capital Management LLC)
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UUID: 7947283
(Bloomberg) -- “While I think low employment percentages have historically led to high wages and inflationary pressures and the fabled Phillips curve which assumes this, I think it appears to be broken,” Janus Henderson fund manager Bill Gross said in an interview with Bloomberg Radio.
- U.S. jobs report for August was “weak,” with avg hourly earnings particularly striking; “inflation, not job growth, dominates central-bank thinking these days”
- Isn’t concerned that Congress won’t raise debt ceiling
- On U.S. growth: “It’s a 2%-max real GDP economy”
Alert: HALISTER1
Source: BFW (Bloomberg First Word)
People
William Hunt Gross "Bill" (Janus Capital Management LLC)
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UUID: 7947283