El-Erian: 'New Normal' May Be Nearing End


The "new normal" of slow economic growth, high unemployment and government debt problems could be over soon, Pimco's Mohamed El-Erian told CNBC on Thursday. El-Erian, CEO and co-CIO of the firm, coined the phrase. "We said in 2009: three to five years," he told "Squawk Box," referring to how long he thought the phenomenon would last.

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