Bill Gross, founder of investment management company Pimco, warned in an interview with the Financel Times about the current enthusiasm in cryptoassets and stock markets that it is dangerous.
The 77-year-old investor attributes the current enthusiasm to central banks injecting money into the economy and inflating the value of assets.
Interest Rates Will Increase
While Gross expressed concern about quantitative easing, he did not warn of hyperinflation. Gross believes that high inflation will eventually leave the United States but still stay above the Fed’s 2% target.
According to Gross, the Fed, which has started to reduce its bond purchases, will increase interest rates next year: