Pacific Investment Management Co., the fixed-income manager that overhauled its leadership this year after the abrupt resignation of former Chief Executive Officer Mohamed El-Erian, said Paul McCulley will return to the firm in the newly created position of chief economist.
The strength of the euro will be seen by European policy makers as a sign of the region’s emergence from its debt crisis as long as it doesn’t move above $1.40, according to Pacific Investment Management Co. strategist Richard Clarida.
A likely agreement to avoid automatic U.S. tax increases and spending cuts will still leave a lot of budget work to be done next year, according to Pacific Investment Management Co. strategist Richard Clarida.
Richard Clarida, global strategic adviser at Pacific Investment Management Co., said he’s confident the European Central Bank “will do what it takes” to rectify the euro region’s debt crisis without sparking inflation.
The Federal Reserve may be forced to buy more assets if the $600 billion in bond purchases announced yesterday isn’t enough to boost growth and inflation, Pacific Investment Management Co.’s Richard Clarida said.