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The next big monetary and fiscal policy move should include an airdrop of "money from helicopters" to stimulate the U.S. economy and avoid an extended recession, says Bill Gross, a portfolio manager at Janus Capital Group Inc . Gross may not be entirely serious about "helicopter money," but in his latest Investment Outlook note published Wednesday, he said the Federal Reserve and U.S. Treasury should engage in another round of quantitative easing (QE), printing trillions of dollars to buy government bonds and thereby boost the economy. "Drop the money from helicopters," wrote Gross, manager of the $1.3 billion Janus Global Unconstrained Bond fund.
While the ADP figures often do not match the US Labor Department's total job market assessment each month, the report could point to a likely downturn in the official data when it is reported on Friday. Job growth noticeably slowed, with some weakness across most sectors," said Mark Zandi, chief economist at Moody’s Analytics, which works with ADP to produce the monthly survey.