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U.S. Must Spend to Avoid Mini Depression, Gross Says

Posted By admin On February 5, 2009 @ 2:03 pm In Money Watch | Comments Disabled

Kathleen Hays and Dakin Campbell
Bloomberg News [1]
Thursday, February 5, 2009

Bill Gross, co-chief investment officer of Pacific Investment Management Co., said the U.S. may slump into a “mini depression” unless policy makers spend trillions of dollars to spur growth.

“This economy needs support from the government, a check from the government in the trillions,” Gross said today in a Bloomberg Television interview from Pimco’s headquarters in Newport Beach, California. “There is a potential catastrophe if the U.S. government continues to focus on billions of dollars.”

Full story here. [1]

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