El-Erian: U.S. 'Used All of the Wrong Bullets' in Battle to Improve the Economy
November 11 — The U.S. economy is hitting 'stall speed,' where like an airplane, it's moving too slowly to generate enough lift to keep it aloft and ends up stalling and dropping, says Mohamed El-Erian, CEO of Pimco, the world's largest bond fund.
Leaders have embraced the wrong policies to deliver what the economy really needs, which is growth. "We used all of the wrong bullets," El-Erian tells CNBC. "We tried to throw money at the problem. The issue is not money, the issue is that what we have are structural impediments and structural challenges need structural solutions." Read more.
