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