Allianz Chief Economic Advisor Mohamed El-Erian says the Federal Reserve will have to “decide between two policy mistakes.” One risks triggering a recession and the other could prolong inflation well into 2023. “I think the time has passed for a soft landing,” the economist stressed.
Mohamed El-Erian on Inflation, Recession, and the U.S. Economy
Economist Mohamed El-Erian discussed where the U.S. economy is headed and the Federal Reserve’s plan to bring inflation under control in an interview with Bloomberg Friday.
El-Erian is Chief Economic Advisor at Allianz, the corporate parent of PIMCO, one of the largest investment managers, where he was CEO and co-chief investment officer. He is also the president of Queens’ College, Cambridge University.
He was asked what’s feasible for Federal Reserve Chairman Jerome Powell under the current economic environment. The economist replied that “at best,” it is “what Chair Powell called a ‘softish’ landing, and the ‘ish’
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