Bloomberg, Released on 10/7/23 (Recorded on 10/6/23)

Mohamed El-Erian, chief economic adviser at Allianz and Bloomberg Opinion columnist, says the unexpected surge in payrolls seen in the September US jobs report is “good news for the economy,” but “bad news for markets and for the Fed” on “Bloomberg Surveillance.”

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 Permacrisis: A Plan to Fix a Fractured World.