Mobius Says No U.S. Recession; Yuan to Become a Reserve Currency

The U.S. economy will avoid a recession and China’s yuan will be a “major force” as a reserve currency in five years, predicted Templeton Asset Management’s Mark Mobius.

Federal Reserve Chairman Ben S. Bernanke’s speech in Jackson Hole, Wyoming last week signaled that the central bank has enough policy tools to support growth if needed, according to Mobius, who oversees about $50 billion as executive chairman of Templeton’s emerging markets group. He spoke in an interview with Bloomberg News ahead of a speech to journalists in Hong Kong.