Pacific Investment Management Co.’s Mohamed El-Erian said
the U.S. economy is having difficulty gaining traction after a government
report showed U.S growth expanded less-than-forecast in the first quarter
Bloomberg reports.
The Federal Reserve is likely to provided additional
assistance if the U.S. economy weakens further, though there is “no immediate
need” to do so, El-Erian, the chief executive officer of the world’s largest
manager of bond funds, said during an interview on Bloomberg Television’s “In
the Loop” with Betty Liu.
Gross domestic product, the value of all goods and services
produced in the U.S., rose at a 2.2 percent annual rate after a 3 percent pace,
Commerce Department figures showed today in Washington. The median forecast of
economists surveyed by Bloomberg News called for a 2.5 percent rise…
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