Bill Gross, manager of the world’s biggest bond mutual fund, said the U.S. Federal Reserve will emphasize meeting inflation targets if Janet Yellen becomes chairman.
“The Federal Reserve, certainly, if Yellen is appointed as the chairperson will become increasingly focused on inflation,” Gross, co-founder of Newport Beach, California-based Pacific Investment Management Co., said during a Bloomberg Television interview with Trish Regan and Adam Johnson.
The focus on getting the inflation rate higher would support low yields for shorter-term Treasurys, he said.
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