Economist Mohamed El-Erian says most inflation ‘could have been avoided’ if Fed acted earlier
Most of the current record high inflation could have been avoided had the Federal Reserve acted earlier and shown humility after it wrongly described inflation as "transitory," economist Mohamed El-Erian said Sunday.
El-Erian, chief economic advisor at Allianz, appeared on CBS's "Face the Nation" to discuss what caused the current inflation and where it was likely to be heading.
"We got here because we got a combination of things happening," El-Erian said, citing the war in Ukraine, the energy transition, and how the Fed incorrectly judged inflation and fell behind.
"All these things...