PIMCO co-CIO Bill Gross told the Reuters Investment Outlook Summit he sees only faint economic growth in 2010, forcing the Federal Reserve to keep short-term interest rates low until it is certain the country is returning to “stable and substantial growth.”

However, job creation will rebound, just not at the 100,000 monthly average rate in previous recoveries, Gross said. Thus, the unemployment rate will remain high for some time to come.

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