In another sign that the world has reached the end of the oil era, the recent statistics of the US solar industry show that SOLAR energy accounted for the majority of new power generation in the US for the first time in history and that fossil fuel new capacity only accounted for 3 % of new capacity.
- Gross says Fed rate increase may come in June as wages rise
- El-Erian, Kiesel, Dudley say two Fed moves possible this year
Three of the world’s most influential bond investors and the head of the Federal Reserve Bank of New York say the U.S. central bank is on course to raise interest rates even after an April jobs gain that was smaller than economists forecast.
Bill Gross, the former manager of the biggest bond fund, said policy makers may act at their next meeting in June. Mohamed El-Erian, chief economic adviser at Allianz SE, said the Fed may move twice this year. Mark Kiesel at Pacific Investment Management Co. and New York Fed President William Dudley echoed the comments.