El-Erian: Fed to Cut Growth Forecast - Europe Faltering

Mohamed El-Erian

The Federal Reserve will cut its growth forecasts and Europe’s economic bailout is failing, said Mohamed A. El-Erian, chief executive at Pacific Investment Management Co., which runs the world’s biggest bond fund. U.S. central bankers may wait beyond their meeting tomorrow to announce additional steps to sustain the expansion, El-Erian wrote in an opinion piece on Pimco’s website. Slower-than- expected economic growth has fueled speculation the Fed will expand its program of Treasury purchases as it tries to keep borrowing costs low. Industrialized nations are eager to let their currencies weaken to aid their economies, he said. Read more here:

El-Erian: Fed to Cut Growth Forecast - Europe Faltering