Bond King Bill Gross: December Rate Hike a 'Slam Dunk'

The transcript discusses potential exogenous shocks to the Federal Reserve, focusing on global finance leverage and the impact of a strong dollar on emerging markets. It also covers predictions for interest rate hikes, market expectations, and the Fed's conservative approach under Janet Yellen, considering economic challenges and structural headwinds.

Discuss the implications of high leverage in the global finance economy as mentioned in the text.

What challenges does the Federal Reserve face in adjusting interest rates?