"The environment with low interest rates—it's globally so unusual. It really shouldn't persist," he said. "It creates problems in terms of leverage and bubbles. But how we get out of it creating some economic setback? It would be very difficult."
The Federal Reserve is in a tough spot because central banks in Europe are still lowering rates at a time the Fed is considering hiking rates, Gates said. "People do expect the U.S. to sort of take the lead in pushing our way out of this situation." .... http://www.cnbc.com
