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Pimco’s El-Erian Discusses the Outlook for US Housing, Chinese Economy and Fed Policy

August 28, 2012 | About:
Pimco should start its own financial network. Between El-Erian and Gross they could kill half a day every day.

El-Erian’s current observations:

- Thinks it is highly probable Bernanke is going to outline the options that are available to the Fed at Jackson Hole but likely won’t get specific.

- Next week he expects the markets to move one way or another because European leaders are going to have to supply some action to back up their words.

- The housing market is finally forming a much-welcome bottom.

- Housing is extremely affordable right now which supports the bottom, but we don’t want to lose Fed support for the housing market at this time.

- China is one of the big four risks to the global economy (the others being the “fiscal cliff,” Europe and geopolitics).

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