Gross: Pension Funds, Household Savers in Deep Doo Doo

The transcript discusses Janet Yellen's upcoming speech and the Federal Reserve's stance on interest rates. It highlights Yellen's shift from a hawkish to a dovish position and her inclination to increase rates in the coming months. The influence of Fed governors on normalizing interest rates is examined, along with the potential negative impact of low rates on business models and long-term growth. The transcript predicts one or two rate hikes in 2016 and 2017, emphasizing the challenges faced by financial institutions and savers if rates remain low.

What does the speaker believe about the Fed's model-making regarding interest rates?

What implications does the speaker suggest for business models if interest rates remain low?