Bill Gross: Fed tightening cycle could create self-inflicted financial instability

The Fed seems intent on raising the fed funds rate this month if only to prove that they can begin the journey to normalization, said Gross, who runs the Janus Global Unconstrained Bond Fund . "They should, but their September meeting language must be so careful, that 'one and done' represents an increasing possibility – at least for the next six months," Gross said. "The Fed is beginning to recognize that 6 years of zero bound interest rates have negative influences on the real economy &n