Investment company Pacific Investment Management Co., (Pimco) recently gathered a range of major political and economic heavy weights to think through the future. They popularized the term “new normal” to describe an era of below-average economic growth following the 2007-08 Global financial crisis, says that period is gradually entering a new phase. Economic growth globally will be converging toward lower, yet more stable top speeds and central bank interest rates will remain stuck below their pre-crisis equilibrium in a “new neutral,” outlining the firm’s expectations for the next three to five years.… Read more
Pimco’s tail risks
