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Rating:Gross Called an 'Oddball' by a Fed Official Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, January 13, 2012

Gross Called an 'Oddball' by a Fed Official

News summary by MFWire's editors

Bill Gross is in the news for being called an "oddball" by Dallas Fed president Richard Fisher back in 2006.

"I've known Gross for 20 years, and I know he's an oddball," the transcript quoted Dallas Fed president Richard Fisher as saying at an October 2006 meeting. "Actually, I'd like that word struck from the record."

When laughter died down, someone asked what to record in place of the "oddball" comment. Fisher replied: "He's increasingly addled, but his words do carry weight. In his recent client letter, he says, "Inflation is leveling off at admittedly unacceptable levels." Hence my careful reference to the word "comportment."

So why is this news now? The Fed yesterday released the transcript of the October 24-25, 2006 Federal Open Market Committee Meeting. Click here to view the complete transcript.

Fisher's comments were picked up by Bloomberg, WSJ's MarketBeat blog and BusinessInsider.

Meanwhile, Gross does not seem miffed by Fisher's words.

Through a spokesman, Gross e-mailed Bloomberg: "I'm sure he was joking." Gross went on to note that Fisher's brother Mike served as Pimco's first president in 1972.

"If he's anything like Mike, he's a fine man with a great sense of humor," Gross said. 

Edited by: HFD

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