El-Erian Says Fed Made “Worst Inflation Call Ever”

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Face The Nation, Released on 12/12/21

Mohamed El-Erian, chief economic adviser for Allianz, says the “characterization of inflation as transitory is probably the worst inflation call in the history of the Federal Reserve.”

“The characterization of inflation as transitory — it’s probably the worst inflation call in the history of the Federal Reserve,” El-Erian said.

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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.

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