Pimco's CIO Says Trump Jr. Controversy Alters Market Outlook
- Likelihood of U.S. reforms dims as distractions increase
- Fed’s path on rates looks gradual as growth prospects slow
Pimco's Cantrill: Complications for Complex Trump Agenda
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News that Donald Trump Jr. met with a Russian lawyer described as having potentially damaging information on Hillary Clinton during last year’s presidential campaign dims the U.S. economic outlook, according to Dan Ivascyn, chief investment officer at Pacific Investment Management Co.
President Donald Trump’s key initiatives such as a health-care overhaul, tax cuts and fiscal stimulus are less likely to win approval before the 2018 mid-term elections as controversies build, Ivascyn said.