The Fed has no choice but to cause 'undue pain' for the economy after blowing it on inflation, Mohamed El-Erian says

Dec 21 2022 by Business Insider

 
Mohamed El-Erian, chief economic advisor for Allianz, speaks at the Reuters Global Investment Summit in New York, November 17, 2015.

REUTERS/Brendan McDermid

The Fed now has no choice but to cause "undue damage" to the economy,  Mohamed El-Erian said. It's the cost of the Fed being late to fight inflation after insisting in 2021 that rising prices were "transitory".  El-Erian predicted central bankers would temporarily abandon their 2% inflation target in order to avoid a serious...

Continue Reading The Fed has no choice but to cause 'undue pain' for the economy after blowing it on inflation, Mohamed El-Erian says