Pimco's El-Erian: Risk Of America Reaching 'Stall Speed'
November 11 2011 - 9:58AM
Dow Jones News
Pimco chief executive office Mohamed El-Erian said in an
interview on CNBC Friday that structurally everything must be done
to spur the U.S. economy to prevent it from hitting "stall speed"
in growth. He said we need "enough growth to safely delever our
debt" -- more than 1% or 2% -- otherwise the country faces the
"terrifying" prospect of recession with the "unemployment rate
already too high, with fiscal deficit already at 9% of GDP, with
interest rates already at zero-percent, and when over a quarter of
homeowners are already under water."
Full story at www.cnbc.com
-Dow Jones Newswires; 212-416-2900