RSS Feed by Calculated Risk on 10/06/2008 06:51:00 PM
Monday, October 06, 2008
Gross to Fed: Cut Rates to 1%, Buy Commercial Paper
From PIMCO's Bill Gross: Nothing to Fear but McFear Itself
[The Fed] must also take another bold step: outright purchases of commercial paper. They should also cut interest rates to 1%, because we are experiencing asset deflation, and the threat of headline inflation is long past.
