Bill Gross says markets are headed for 'potential chaos' if interest rates keep going up
watch now VIDEO 2:39 02:39 The economy is slowing and is heading toward a recession, says PIMCO co-founder Bill Gross Halftime Report Famed investor Bill Gross said he expects big trouble ahead should the Federal Reserve keep hiking interest rates . "The economy has been bolstered by tremendous amounts of trillions of dollars in fiscal spending, but ultimately when that is used up, I think we've got a mild recession, and if interest rates keep going up, we've got more than that," Gross said Tuesday on CNBC's "Halftime Report." "We've got potential chaos in financial markets," Gross said. A tightening of monetary policy would further roil the capital market s, according to Gross. The so-called bond king and co-founder of Pimco pointed to Tuesday's move in global bond yields following the Bank of Japan's decision to widen the yield on its 10-year Japanese government bond. Meanwhile, a rise in interest rates spells trouble ahead ...