Bill Gross appeared on CNBC:

  • Sees US economy growing at 3% for another quarter
  • Sees economy then reverting to about 2%
  • US economy slowing as oil price declines
  • TIPS look great
  • High yield debt market not a great bet at the moment

If the Fed decides to wait until inflation hits 2%, they’ll be waiting a long time. At least until late in 2015.