QE3 Won’t Produce the Outcomes We Want – PIMCO’s El-Erian

PIMCO CEO and co-CIO Mohamed El-Erian spoke with Bloomberg Television’s Betty Liu, Dominic Chu and Michael McKee about Europe’s crisis, the U.S. economy and where to invest safely in this environment. El-Erian said that the Fed “doesn’t have enough policy instruments to deal with the challenges facing the economy” and that QE3 will not work. [...]