Pimco’s El-Erian warns against Fed's QE tapering

08/1/2013 | CNBC

Pacific Investment Management Co. CEO Mohamed El-Erian doesn’t believe there is enough economic growth to justify a possible decision by Federal Reserve Chairman Ben Bernanke to taper the Fed’s bond-buying program but thinks that the decision will be made anyway. "The reason they'd be doing it is because they're starting to get more and more worried about what Mr. Bernanke has called 'the cost and risk of prolonged unconventional and experimental monetary policy,'" El-Erian said.

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