- PIMCO’s El-Erian left because of long hours and friction with Bill Gross – CNBC
- Larry Summers: Important not to tackle income inequality by pulling down rich – CNBC
- Ambrose Evans-Pritchard: Japan’s recovery risks stalling on tax rise – Telegraph
- BIS: Central banks should be more proactive to fight bubbles – WSJ
- US economy finishes best 6-month period since crisis but ‘voters left behind’ not thanking Obama – Bloomberg
Sobering fact in the Bloomberg story: real median household income in the US is still 8% lower than in 2007.