El-Erian: U.S. Economic Conditions ‘Terrifying’
November 22 — Pacific Investment Management Co.’s Chief Executive Officer Mohamed A. El-Erian said U.S. economic conditions are “terrifying” given that the nation is coming out of recession.
The odds of the U.S. returning to recession are one-third to half, El-Erian said in a Bloomberg Television interview with Betty Liu. The economy in the U.S. expanded less than previously estimated in the third quarter, reflecting a drop in inventories that points to a pickup in growth as 2011 comes to a close. Read more.
