PIMCO’s chief investment officer for global credit spoke at a Bloomberg event on Thursday
Some blunt comments on how the Federal Open Market Committee has lagged:
- “We’ve been very concerned that the Fed has frankly been behind the curve and needed to act more quickly”
Added that he welcomed the pivot from Powell and that market should take tightening in its stride:
- “I don’t think it’s going to be so much of a dramatic event for markets
- I think the stock market, the housing market and consumers can handle it.”