Gross: Global economy cannot live without QE

As the US Federal Reserve finally turns off the money printing presses, veteran investor Bill Gross has warned the global economy cannot survive without the support of quantitative easing.

The bond manager (pictured) who recently left PIMCO to join Janus Capital, said the economy as it stands today needs an easy money supply to stay alive. His comments come a week after the Federal Reserve finally put an end to its bond buying programme, leaving the economy to run unsupported for the first time since the financial crisis. "Stopping the printing press sounds like a great solution to the depreciation of our purchasing power, but today's printing is simply something that the global finance-based economy cannot live without," he said. Pointing to the US and eurozone, he ...