US market risk highest since before Great Recession, Bill Gross says

DAILY SABAH
ISTANBUL
Published 07.06.2017 19:44
Updated 07.06.2017 19:53
Bill Gross speaks at the Morningstar Investment Conference in Chicago, Illinois, June 19, 2014. (REUTERS Photo)
Bill Gross speaks at the Morningstar Investment Conference in Chicago, Illinois, June 19, 2014. (REUTERS Photo)

Bill Gross, fund Manager at Janus Henderson Group Plc, has claimed that the level of risk he sees in the current market environment is at its highest since the financial shocks of 2008.

Speaking at the Bloomberg Invest New York summit on Wednesday, Gross said that central bank policies for low-and negative-interest rates were artificially driving up asset prices.

"Instead of buying low and selling high, you're buying high and crossing your fingers," Gross said.

This situation is creating little growth while punishing individual savers, banks and insurance companies, Gross told Bloomberg. Investors are paying

The Trump administration had previously announced an ambitious GDP growth goal of 3 percent. However, analysts predict that a 2.1 percent growth in 2017 is more likely.

The U.S. economy grew only 1.6 percent in 2016.

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