Five years after Congress mandated that sales of ammonium nitrate, the chemical implicated in last month’s fatal Texas blast, be tracked, rules to do that haven’t been issued by the federal government.
Bill Gross, manager of the world’s biggest bond fund, said the “new normal” of subpar economic growth in the world’s biggest economy is intact even after U.S. employment increased more than forecast in April.
The Texas plant that was the scene of a deadly explosion this week was last inspected by the Occupational Safety and Health Administration in 1985. The risk plan it filed with regulators listed no flammable chemicals. And it was cleared to hold many times the ammonium nitrate that was used in the Oklahoma City bombing.
Pacific Investment Management Co.’s Bill Gross, manager of the world’s biggest bond fund, said the U.S. economy won’t expand more than 2 percent this year even with one or two quarters of faster growth.
President Barack Obama’s nominee for energy secretary is drawing criticism for leading a study that minimized risks of natural gas while failing to disclose that some of its researchers had financial ties to the industry.
Pacific Investment Management Co., manager of the world’s largest mutual fund, said a recent forecast by founder Bill Gross for 3 percent economic growth in the U.S. won’t be reached until the second half of 2013.