Economy

El-Erian says the Fed is behind on inflation and risks another recession if it is forced to catch up

0


Federal Reserve officials are underestimating inflation and risking that the U.S. could fall into another recession, Mohamed El-Erian, chief economic advisor at Allianz, told CNBC on Monday.

Central bank leaders insist that the recent round of price pressures will subside once short-term supply chain bottlenecks clear and the 2020 economic shutdown period is no longer part of the year-over-year comparisons.

But El-Erian said he sees growing evidence that the Fed is wrong.

“I have concerns about the inflation story,” he told CNBC’s Becky Quick during a “Squawk Box” interview. “Every day I see evidence of inflation not being transitory, and I have concern that the Fed is falling behind and…



Source cnbc.com

Stock futures are little changed after S&P 500 closes at a record

Previous article

Cathie Wood’s Ark Invest to create a bitcoin ETF under the symbol ‘ARKB’

Next article

You may also like

Leave a Reply

avatar
  Subscribe  
Notify of

More in Economy