Quarterly Asset Management Newsletter

Mohamed El-Erian and his former PIMCO colleagues coined the term “New Normal” in 2009 after the 2008 Financial Crisis. He seems to have recently abandoned the term and the paradigm. The New Normal was roughly defined as a prolonged period of stagnant growth, political gridlock and increased regulation. In a recent article
published by Bloomberg, El-Erian who is now Allianz’ chief economic adviser, believes the world’s largest economy has finally broken out from its post-crisis melancholy.