Morgan Stanley’s Gorman Says World Economy Still Needs Stimulus

Jan. 23 (Bloomberg) -- The global economy still needs monetary stimulus to fully recover, Morgan Stanley Chief Executive Officer James Gorman said.

“We’re still in a recovery zone,” Gorman, 54, said today in an interview with Bloomberg Television’s Erik Schatzker at the World Economic Forum in Davos. “There’s still a lot of muted areas around the world. There’s nobody running a victory lap just yet.”

Gorman said he doesn’t think existing stimulus measures by central banks are creating asset bubbles.

“I’d be hard-pressed to describe this as toppy,” he said.

To contact the reporter on this story: Michael J. Moore in New York at mmoore55@bloomberg.net

To contact the editor responsible for this story: Steve Dickson at sdickson1@bloomberg.net