Bloomberg, Released on 7/23/21
Gramercy Funds Chairman Mohamed El-Erian, a Bloomberg Opinion columnist, says the Federal Reserve will “condition the market to a very gradual” reduction in quantitative easing. “I think the market will accept that to begin with. And then reality is going to sink in that they should go faster,” El-Erian says on “Bloomberg The Open.” El-Erian’s opinions are his own.
Mohamed El-Erian is the Chief Economic Adviser of Allianz, a multinational financial services company. He is the former CEO and co-Chief Investment Officer of PIMCO, a global investment firm and one of the world’s largest bond funds in the world. Dr. El-Erian also served as a member of the faculty of Harvard Business School. Before joining PIMCO, Dr. El-Erian was a managing director at Salomon Smith Barney/Citigroup in London and before that, he spent 15 years at the International Monetary Fund in Washington, D.C. His latest book is The Only Game in Town: Central Banks, Instability, and Avoiding the Next Collapse.