Neel Kashkari, a senior executive at Pimco and former Treasury official who ran the Troubled Asset Relief Program, said 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 said. "Unemployment at around 10% is going to remain high in the foreseeable future and then come down only slowly as the global economy recovers."

Full Story:

Related Summaries