MSNBC, Released on 8/6/22
"We are not in a recession,” says top economist @elerianm. Instead, he says the fed let inflation get out of control. “The more prices go up, the less people spend. The less people spend, the less companies invest. And you risk a recession.” #Velshi pic.twitter.com/DUdVe4eeCq
— Velshi on MSNBC (@VelshiMSNBC) August 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.