Bill Gross on Pimco Hiring Bernanke and Fed Interest Rate Hike 2015

Bill Gross of Janus Capital spoke with Bloomberg Television’s Erik Schatzker about today’s Federal Open Market Committee statement and the outlook for Federal Reserve policy, global bond markets and Pacific Investment Management Co.’s move to hire former Fed Chairman Ben S. Bernanke as an adviser.

On Pimco hiring Bernanke, Gross said: “Obviously it’s a public relations effort….To be able to hook up with Ben Bernanke, I think it is. And that was one of the reasons why we did it with Alan Greenspan [when I was at Pimco], but we found out that there were some very positive benefits to it as well.”