Bill Gross said Pacific Investment Management Co., manager of the world’s biggest bond fund, has been betting that volatility across asset classes will remain very low, as gauges of price swings fall to their lowest levels on record.
As a seven-year-old in Cuba, Carmen Reinhart memorized the routes of ships carrying silver from Peru and Bolivia to Spain. By 16, she had moved to Miami and got a job at a Sears Holdings Corp. store reviewing credit applications and payment records.
A restructuring of U.S. household debt, including debt forgiveness for low-income Americans, would be most effective in speeding economic growth, said Carmen Reinhart, a senior fellow at the Peterson Institute for International Economics in Washington.
Restructuring the debts of Americans, including debt forgiveness for low-income households, would be one of the most effective ways to speed up economic growth, said Carmen Reinhart, a senior fellow at the Peterson Institute for International Economics in Washington.
Carmen Reinhart, a Harvard University economist and co-author of a history of debt crises, said emerging markets are deteriorating as the U.S. recovers and may worsen as global interest rates begin to increase.
The slow U.S. economic recovery is characteristic of recessions caused by financial crises, according to Harvard University economists Carmen Reinhart and Kenneth Rogoff, who disputed analyses by advisers to Mitt Romney who say the recent American experience is different.