McCulley!

Pacific Investment Management Co.’s Paul McCulley said the U.S. economy won’t show a significant recovery until 2010 as jobs are eventually created.

“I really don’t see recovery worthy of the name until sometime in 2010,” McCulley, a partner and fund manager at Pimco, said in a Bloomberg Television interview from Newport Beach, California. “A recovery, to be self-sustaining, has to have job creation with it in order to get personal income and therefore consumption.”

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Source:
McCulley Says No Significant Recovery Until 2010
Kathleen Hays and Dakin Campbell
Bloomberg, May 29 2009

http://www.bloomberg.com/apps/news?pid=newsarchive&sid=asagT3NAf_YM

Category: Economy, Video

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