"The Federal Reserve will likely embark on its next round of monetary stimulus in two weeks, Bill Gross, Pimco’s co-chief investment officer, told CNBC’s"Street Signs" on Friday. But he said more stimulus won’t do much to improve the country’s job market.
“What the Fed is targeting in terms of quantitative easing is sustained improvement in employment,” Gross said after Bernanke's much anticipated speech in Jackson Hole on Friday. “Until you see several quarters of perhaps 7 percent unemployment, you will see QE.” Gross expects the Fed to act at its September meeting, but may hold off another month if the August employment report is strong."
I take that to mean, if Obama's poll numbers are strong, too. - Wes
