PIMCO CEO: Policy Makers Must 'Get Better at Understanding the Challenges'

Mohamed El-Erian, CEO of PIMCO, challenged policy makers to step up their problem solving skills in an Op-Ed piece posted on CNBC.com Wednesday. "To counter both the hesitancy and the trend towards greater “self insurance,” policy makers must get better at understanding the challenges and implementing the appropriate solutions in a timely and proper fashion. It is a question of both content and process," El-Erian noted. PIMCO, funded in 1971, is a global investment solutions provider. The company manages billions of dollars in bond investments and is noteworthy for its sustained returns. Speaking to a multitude of economic factors that are affecting sentiment right now, El-Erian also pressured leaders to act. "Structural problems require structural solutions that are adopted within a clearly communicated overall vision; and rather than piecemeal, this should be done in a comprehensive, coordinated and sustained manner." Continuing on, El-Erian is blunt in his assessments. "Until we see this happening, the US economy will not gain proper traction; Europe will face recurrent debt crises; multinationals and emerging economies will be reluctant to fully unleash their considerable purchasing power; and markets will face recurrent headwinds."