Following Friday’s report that zero jobs were generated in the month of August, Pimco investment firm CEO Mohamed El-Erian called the condition of the U.S. economy “grim and scary.”
Speaking to Bloomberg Television’s Betty Liu, El-Erian estimated the chance of another recession as at least one-in-three, and possibly as high as one-in-two.
“The downside risk is increasing,” El-Erian, whose company manages a portfolio of over $1 trillion, told Bloomberg.
No comments:
Post a Comment