El-Erian: It all comes down to liquidity
"The problem is that we haven't yet found this balance between three things-public health, normal economic functioning and personal freedoms," Mohamed El-Erian, chief economic advisor at Allianz, told CNBC's "Squawk Box" Monday. "We're going to continue to iterate like this, which means the recovery is not going to be smooth. It's going to have lots of bumps, and there is a material risk in some countries of going back into recession."
Mohamed El-Erian is the Chief Economic Adviser of Allianz, a multinational financial services company. He is the former CEO and co-Chief Investment Officer of PIMCO, a global investment firm and one of the world's largest bond funds in the world. Dr. El-Erian also served as a member of the faculty of Harvard Business School. Before joining PIMCO, Dr. El-Erian was a managing director at Salomon Smith Barney/Citigroup in London and before that, he spent 15 years at the International Monetary Fund in Washington, D.C. His book, When Markets Collide: Investment Strategies for the Age of Global Economic Change