El-Erian: Fed Would Only Pivot Over Financial Stability Concerns

Bloomberg, Released on 10/25/22

Mohamed El-Erian, chief economic adviser at Allianz and Bloomberg Opinion columnist, says the Federal Reserve won’t shift from it’s aggressive rate-hiking path unless US financial stability is threatened. “If they pivot, it will be because of financial stability. It’s not going to be because they have decided to not look at inflation anymore,” El-Erian says on “Bloomberg The Open.”

Mohamed El-Erian is the President of Queens College, Cambridge and 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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