Yahoo Finance, Released on 1/6/22
“In the old days, the Fed could do U-turns… it did a massive U-turn in January 2019, 2018… [and] after the taper tantrum,” Queens’ College, Cambridge, President @elerianm says. “The Fed can do U-turns as long as inflation isn’t a problem.” pic.twitter.com/rUUXUuR9JD
— Yahoo Finance (@YahooFinance) January 6, 2022
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.