The CIO of a major pension fund explains why the stock market looks like the 1960s again

Christopher J. Ailman, chief investment officer of The California State Teachers' Retirement System.
Adam Jeffery | CNBC

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The chief investment officer of one of the country's largest pension funds said Monday that the U.S. economy and stock market would mirror the 1960s in the coming years.

Christopher Ailman of CalSTRS said on CNBC's "Squawk Alley" that he expected a "bumpy road" ahead for the economy as companies and local governments try to recover from the coronavirus crisis.