Bond guru Bill Gross, who has long called for the Federal Reserve to raise interest rates, said on Wednesday that U.S. central bankers may have missed their window of opportunity to hike rates earlier this year and normalizing them now could create "self-inflicted financial instability." In his September Investment Outlook report, Gross wrote that his concept of a neutral policy rate closer to a nominal 2 percent "now cannot be approached without spooking markets further and creating self-inflicted financial instability." The neutral rate is the point at which the rate is neither stimulative nor contractionary. The ... (full story)