Mohamed El-Erian, chief executive officer and co-chief investment officer at Pacific Investment Management Co. told Bloomberg TV:
'I am worried. We've had two bits of unfavorable news in the last 24 hours. One you reported this morning, which is that we have less economic momentum than we thought we had - 2% growth as opposed to 2.5%. The second is that yesterday we had no policy momentum. We're worried about the concept of stall speed, that 2% growth may not be enough for an economy that still has to de-lever. We put the chance of a recession at one-third to one half, which is really high given initial conditions'….
Read more about this at http://www.businessweek.com/news/2011-11-23/pimco-s-el-erian-says-u-s-economic-setting-terrifying-.html
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