Gross Calls for QE3, Says Markets “Need More Ammo”

A third round of quantitative easing (QE3) could be arriving in the near futures, according to PIMCO’s Bill Gross. As the manager of the world’s largest bond fund at PIMCO, Gross wrote on the firm’s Twitter account this week that “Risk markets need more ammo if they are to stay up. QE3 getting closer.”
While Federal Reserve Chairman Ben Bernanke and his fellow central bankers will not be taking advice from Mr. Gross, his comments are not likely to fall on deaf ears. The Fed’s next FOMC meeting will be held on June 19th and 20th, while the current “Operation Twist” is set to expire on June 30th.

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