Contact Information: Contact: Mark Porterfield PIMCO - Media Relations 949-720-6397 www.pimco.com
PIMCO's McCulley Calls for the Fed to Cut Rates Immediately
| Source: PIMCO
NEWPORT BEACH, CA--(Marketwire - January 21, 2008) - PIMCO Fed Watcher, Paul McCulley, today
called for the Fed to lower rates now rather than wait for its next
scheduled meeting. "Sometimes when you are ill, you make an appointment
with your doctor; other times, you go straight to the emergency room. Now
is one of those other times. The Fed must cut immediately and aggressively
for the health of the economy."
About PIMCO
With more than $721 billion in fixed-income assets under management in the
US, PIMCO is one of the world's leading fixed-income fund-management
companies. Founded in 1971 and based in Newport Beach, California, the
company is majority owned by Munich-based Allianz Group, a leading global
insurance company with nearly $1 trillion in assets and represented in 70
countries around the globe.