Allianz Chief Economic Adviser Mohamed El-Erian on Tuesday told FOX Business that the U.S. economy is poised for growth while the global economy slows.
“Away from the U.S. things are slowing down,” El-Erian said to Maria Bartiromo on “Mornings with Maria.” “And that’s because their growth hasn’t been policy induced.”
The U.S. is being powered by consumers because the labor market is strong with unemployment at an 18-year low of 3.8%. Also the government’s pro-business policies are driving investment and government spending.
As a result, U.S. growth will accelerate on an annual basis for an extended period, he said adding, “And then the question mark will be how long can the U.S. be the good house in a challenged global neighborhood.”