Mohamed A. El-Erian , Columnist

Mend the Disconnect Between Wall Street and Main Street

The public and private sectors can close the gap in the fortunes between the two sides.

May 4, 2020 at 10:00 AM UTC

Mohamed A. El-Erian is a Bloomberg Opinion columnist. A former chief executive officer of Pimco, he is president of Queens’ College, Cambridge; chief economic adviser at Allianz SE; and chair of Gramercy Fund Management. He is author of “The Only Game in Town.”

American caustic.
Photographer: Timothy A. Clary/AFP/Getty Images

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Just a few weeks into the coronavirus crisis, many are already pointing to the striking contrast between what has happened to the real economy and financial markets. This Main Street versus Wall Street tension is fueled both by legacy and current issues and sheds light on the state of economic and financial policies. It may also play a role in determining current and future well-being.

Two main factors are driving the tension.