Here’s a summary of Mohammed el-Erian’s summary of the IMF’s report on the state of the U. S. economy:
- Growth this year will be 2% or below
- Growth for the foreseeable future will be 2% or below
- Interest rates will stay low for a protracted period
Now here’s the assessment. If your financial plans include a portfolio that’s growing at 8% or faster, you might want to reconsider your plans. I’m talking to you, public pension plans.