PIMCO economist Peder Beck-Friis says that high US debt levels do not pose an immediate threat.
Before that happens, volatility will rise in financial markets and the macro economy, he noted.
AdvertisementInvestors shouldn't fear US debt crisis just yet, as the situation is more benign than it appears, PIMCO econmist Peder Beck-Friis wrote on Thursday.
In an op-ed in The Financial Times, Beck-Friis wrote that investors will need to prepare for higher instability before policymakers treat the debt seriously.
Like many other big-name market observers, he argued that the aggressive rise in the US debt will eventually hit unsustainable levels.
Persons:
Peder Beck, Friis, —, PIMCO econmist Peder Beck, Beck, Bill Gross, Ronald Reagan, Bill Clinton
Organizations:
Financial Times, Service, Financial, US
Locations:
Washington, Europe