El-Erian Says Fed Should ‘Go for 50’ Basis-Point Hike at Next Meeting

Bloomberg, Released on 1/20/23

Mohamed El-Erian, chief economic adviser at Allianz and Bloomberg Opinion columnist, says the Federal Reserve should raise its benchmark interest rate by 0.50% at it’s upcoming policy meeting. “I’d rather get the tightening out of the way now than when the economy weakens — I’d go for 50,” he 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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