Economic "growth depends on productivity. And productivity, importantly, depends on investment. Investment has been sorely lacking in the last several years in the United States," he said. "Productivity needs to grow at least by 2 to 3 percent as the labor force is only growing at half a percent. ... I'm skeptical."
Gross is the portfolio manager of Janus Global Unconstrained Bond and Total Return strategies. Previously, he co-founded and was chief investment officer of Pimco.
He also discussed:
- President Trump's inaugural speech
- Fiscal stimulus
- Trade policy
- Federal Reserve
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