Bill Gross: Fed Likely Eyeing 'One and Done' Hike Strategy

``Bill Gross, the former Pimco "bond king" now with Janus Capital, believes the Federal Reserve could -- and should -- raise interest rates in September and then hold off on another rate hike for at least six months, a strategy he calls "one and done." The strategy adheres in principle if not specifics to numerous messages conveyed recently by influential Fed policy makers, including Fed Chair Janet Yellen, who have said rates will rise "gradually" after the initial rate hike is announced.''