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'Messy Healing' Process For U.S. Economy: El-Erian

The United States is currently going through a “sequential healing process,” Pimco co-CEO Mohamed El-Erian told CNBC.

“There’s nothing instantaneous about this,” he said. “It’s going to take time, it’s going to be messy, it’s going to be bumpy and investors have to find a way to navigate through all this.”

El-Erian said he sees the growing level of government involvement as a positive sign for the economy as both main street and Wall Street are under pressure and are in need of outside help. He hopes that Obama and his team will reach an economic solution by the end of February.

“For any investor today, understanding government action is really important,” he said. (Watch the accompanying video for the full interview...)

In the meantime, El-Erian says investors need to learn not to "run far head of the healing process" and to stay under the “government umbrella.”

“There is a healing going on…[but] don’t go and chase risk until you see the healing process get there,” he said.

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