Mohamed El-Erian Says The Fed Is Wrong: ‘Inflation Will Not Be Transitory’

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CNBC, Released on 5/3/21

“The Fed is pinning itself in a corner by insisting that this is transitory,” Mohamed El-Erian, economic advisor at Allianz and Gramercy and president at Queens College, Cambridge, told CNBC’s “Squawk Box” Monday regarding inflation pressures. “All the evidence suggests that you should have an open mind.”

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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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