Fed Should Resist Market Pressure To Do More

–In listening to market chatter urging the Federal Reserve to do more, I’ m reminded of two simple insights I was exposed to years ago that have stayed with me. Early on in my career at Pimco, I remember Bill Gross, the firm’ s founder and legendary investor, reminding portfolio managers that“ there are times when the best thing to do is to do nothing.” It’ s important advice as…