Bloomberg, Released on 4/1/22

Allianz Chief Economic Advisor Mohamed El-Erian says that the Fed is having to “choose between one of two mistakes.” El-Erian also said the Biden administration’s decision to release emergency U.S. crude “helps” fears of double-digit inflation, “but it doesn’t remove them”.

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.

  Biden, economy, Fed, markets, oil, recession