PIMCO CEO Mohamed El-Erian: Budget Deal Will Only Bring Short-Term Relief

One of the most prominent global investors says that a potential budget deal in Washington will only bring short-term relief, and it won't remove the threat of a U.S. debt downgrade by credit rating agencies. "I think this compromise will lead to an increase in the debt ceiling, and therefore avoid default," said Mohamed El-Erian, CEO of PIMCO, a global investment firm and one of the world's largest bond investors said today on ABC's "This Week With Christiane Amanpour." "But this relief will...Full Story
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