"Bill Gross Predicts U.S. Recession Imminent by Year's End"
Bill Gross, co-founder of Pacific Investment Management Co., predicts that the U.S. economy will enter a recession by the end of the year, citing the rise in auto delinquencies and regional bank struggles as indicators of a significant slowdown. Despite the Atlanta Federal Reserve's GDP Now indicator showing a 5.4% annualized growth rate in the third quarter, Gross believes the official GDP data will reveal a different story. He recommends investing in shares of regional banks and betting on the steepening of the Treasury curve as the economy slows down and investors adjust their expectations regarding Federal Reserve interest-rate cuts.