On Air Now

Upcoming Shows

Program Schedule »

Listen

Listen Live Now » 590 AM Kalamazoo, MI

Weather

Current Conditions(Kalamazoo,MI 49001)

More Weather »
54° Feels Like: 54°
Wind: SE 14 mph Past 24 hrs - Precip: 0”
Current Radar for Zip

Today

Cloudy/Wind 61°

Tonight

Showers 45°

Tomorrow

AM Rain 61°

Alerts

Pimco's El-Erian warns against risks of debt ceiling fight: Bloomberg TV

Mohamed A. El-Erian, CEO and co-CIO of PIMCO, takes part in a panel discussion titled "Global Markets in Uncertain Times" at the Milken Inst
Mohamed A. El-Erian, CEO and co-CIO of PIMCO, takes part in a panel discussion titled "Global Markets in Uncertain Times" at the Milken Inst

NEW YORK (Reuters) - Mohamed El-Erian, chief executive of bond giant Pimco, said Tuesday that the economy cannot absorb uncertainties, including another "fight" on the debt limit.

"The economy cannot, cannot absorb a whole list of uncertainties, including another fight on the debt limit," El-Erian, also co-chief investment officer of Pimco, told Bloomberg Television.

The U.S. Treasury Department has set a deadline for raising the debt ceiling, and said Congress needs to act by mid-October, or the country will face an unprecedented default.

Pimco, a unit of European financial services company Allianz SE , had $1.97 trillion in assets as of June 30, according to the firm's website. The firm's Pimco Total Return Fund is the world's largest bond fund.

(Reporting by Sam Forgione; Editing by Chizu Nomiyama)

Comments