Joachim Fels is a managing director and global economic advisor based in the Newport Beach office at PIMCO.
- The longer US wage growth stays low the more problems it creates for the Federal Reserve
- US turndown in inflation likely to last
- Fed may not raise rates one more time in 2017, says low inflation may halt any more rate hikes this year
- Risk is Federal Reserve cements low inflation expectations
More:
- Yellen is likely to reiterate Federal Reserve's recent policy message
- Sees risk of more upheaval in bonds and risk assets
- Bond mkt to remain range-bound this year, not at the start of a bond bear market
- 2.5% is fair for US 10 year notes
Fels interviewed by Bloomberg on Bloomberg TV. Here are a couple of clips:
![](http://az705044.vo.msecnd.net/20170710/fels.png)
more to come