It's a PIMCO and ex-PIMCO Fed Forecast Festival

Bill Gross, now at Janus:

  • "I'm not so sure that June is out"
  • "Yellen, more than jobs, is focused on wages. At 2.5 percent, they're moving up."

Mohamed El-Erian, chief economic adviser at Allianz SE:

  • "I do think they'll hike at least once, and they could hike twice this year"
  • The Fed "has a window." ... financial markets that are relatively calm and a depreciating dollar will make it easier for policy makers to act

Mark Kiesel at Pacific Investment Management Co.:

  • Notes the labor market is gradually improving
  • "They'll probably start with one or two hikes by the end of the year"

Bloomberg has more