PIMCO CEO and co-CIO Mohamed El-Erian spoke with Bloomberg Television's Betty Liu, Dominic Chu and Michael McKee about Europe's crisis, the U.S. economy and where to invest safely in this environment.
El-Erian said that the Fed "doesn't have enough policy instruments to deal with the challenges facing the economy" and that QE3 will not work. On investing opportunities, he said that "In the short term, the U.S. dollar is the best place."
