CNBC, Released on 8/30/21

Part 1 (see part 2 below)

“I think we are witnessing a high probability of a policy mistake. Is it going to be as big as the ’70s? No it is not. But it is going to be big. I worry that we are going to destabilize both inflation expectations and wage expectation.”

"I think we are witnessing a high probability of a policy mistake. Is it going to be as big as the '70s? No it is not. But it is going to be big. I worry that we are going to destabilize both inflation expectations and wage expectation," says @elerianm on the Fed. pic.twitter.com/K44Vaen8N9

— Squawk Box (@SquawkCNBC) August 30, 2021

Part 2

CNBC’s “Squawk Box” team discusses the U.S. economy, Fed policy, markets, inflation and more with CNBC’s Steve Liesman and Mohamed El-Erian, Allianz and Gramercy advisor.

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.

  economy, federal reserve, inflation, interest rates, markets, monetary policy, stocks, tapering