Pimco's El-Erian sees slower growth, high unemployment

08/16/2010 | USA Today

Mohamed El-Erian, CEO and co-chief investment officer of investment giant Pimco, foresees slower growth for the nation's economy of 2% and persistently high unemployment as part of what he calls the "New Normal." The government is running out of options to heat up the economy due to the deficit and the fact that short-term interest rates are already at about 0%, he tells USA TODAY.

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