On Monday, December 13, following Friday’s U.S. consumer price index report published by the Bureau of Labor Statistics, Americans are discussing the Federal Reserve. Thousands of tweets concerning the Federal Reserve topic have been trending on Twitter, as inflation has gripped the U.S. economy. Furthermore, Mohamed El-Erian, the chief economic advisor for the German multinational financial services company Allianz says the term “transitory” was the “worst inflation call in the history,” according to a recent interview.
Allianz Chief Economic Advisor Says Calling Inflation ‘Transitory’ Was a Bad Call by the US Central Bank
At the end of April 2021, members of the Federal Open Market Committee (FOMC), told the American public that the Federal Reserve would keep the benchmark interest rate near zero and monthly bond purchases would continue. The FOMC’s and Fed chair Jerome Powell’s statements stressed that inflation would only have “transitory effects” on the Ameri
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