Kashkari says U.S. faces period of slower growth

04/19/2010 | Reuters

Neel Kashkari, a senior executive at PIMCO and former Treasury official who ran the Troubled Asset Relief Program, said that the U.S. is facing high unemployment and slower economic growth. "We at PIMCO believe that nominal U.S. GDP growth will trend lower to 3-4% from 6-7%," Kashkari aid. "Unemployment at around 10% is going to remain high in the foreseeable future and then come down only slowly as the global economy recovers."

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