Global investment guru El-Erian is published widely on international economics and financial topics, has served as Managing Director of Salomon Smith Barney/Citigroup in London and has enjoyed a 15 year career at the International Monetary Fund.
Join this eminent investment manager as he navigates the sea-change in the international economy.
Mohamed El-Erian is a co-CEO and co-CIO of PIMCO. He re-joined PIMCO in 2008 after serving for two years as president and CEO of Harvard Management Company, the entity that manages Harvard's endowment and related accounts. He has also served as a member of the faculty of Harvard Business School.
He first joined PIMCO in 1999, as managing director and was a senior member of PIMCO's portfolio management and investment strategy group. Before coming to PIMCO, 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, DC.
El-Erian has published widely on international economics and finance topics and has served on several boards and committees, including the Emerging Markets Traders Association and the IMF's Committee of Eminent Persons. He is currently a board member of the International Center for Research on Women and the Peterson Institute for International Economics. He is also a member of the U.S. Treasury Borrowing Advisory Committee and the IMF's Capital Markets Consultative Group, and chairs Microsoft's Investment Advisory Committee.
He has 25 years of investment experience and holds a Ph.D. in economics from Oxford University. He received his undergraduate degree from Cambridge University.
David Lazarus is a business/consumer columnist for the Los Angeles Times. He joined the paper in August 2007.
He previously worked as a columnist for the San Francisco Chronicle and a nightly radio talk show host for San Francisco's KGO Radio. He graduated from the University of California, Berkeley.
Measures employed by governments to stabilize the economy, specifically by adjusting the levels and allocations of taxes and government expenditures. When the economy is sluggish, the government may cut taxes, leaving taxpayers with extra cash to spend and thereby increasing levels of consumption. An increase in public-works spending may likewise pump cash into the economy, having an expansionary effect. Conversely, a decrease in government spending or an increase in taxes tends to cause the economy to contract. Fiscal policy is often used in tandem with monetary policy. Until the 1930s, fiscal policy aimed at maintaining a balanced budget; since then it has been used countercyclically, as recommended by John Maynard Keynes, to offset the cycle of expansion and contraction in the economy. Fiscal policy is more effective at stimulating a flagging economy than at cooling an inflationary one, partly because spending cuts and tax increases are unpopular and partly because of the work of economic stabilizers. See alsobusiness cycle.