Miscellaneous Quotes for Week to 28th July 2017

Bill Gross – Janus Capital on Bloomberg and CNBC

A recession would be good.

“Recession would do the economy some good like a forest with dead wood. You clear out some of the dead wood and you prevent a forest fire…A slow down is finw with me as it produces ultimately in the long term a healthier economy.”

on the Fed

“They’re on to now reducing the balance sheet, because they want a positive yield curve”


FOMC Statement

Rising economic activity

“the labor market has continued to strengthen and that economic activity has been rising moderately so far this year. Job gains have been solid, on average, since the beginning of the year, and the unemployment rate has declined. Household spending and business fixed investment have continued to expand. On a 12-month basis, overall inflation and the measure excluding food and energy prices have declined and are running below 2 percent. Market-based measures of inflation compensation remain low”

Coming soon: Normalization 

“The Committee expects to begin implementing its balance sheet normalization program relatively soon, provided that the economy evolves broadly as anticipated;”