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December 23, 2013 AT 11:43 AM
PIMCO CEO and co-CIO Mohamed El-Erian agrees with President Obama that 2014 can be a breakthrough year for America. The real question is: “Will it be?” El-Erian, who is credited with coining the term “new normal” to describe an economy stuck in a low/no-growth mode, has been more upbeat of late. 2014 is “certain to be better in terms of growth,” he says, predicting U.S. GDP will be in the 2.25%-2.75% range in the coming year.