Olde Hornet
Well-Known Member
I really like this guy
He noted that the global economy is slowing rapidly while central banks are tightening policy, which should have their intended effect on inflation.
"I think inflation has peaked in the US, at least for the next three to four months. We've got to see how sticky some elements are," El-Erian told CNBC on Friday. "But the problem is not that inflation is going to come down — that's a really good thing. The problem is that inflation is going to come down with growth probably going into a recession, and that's not good news."
Top economist Mohamed El-Erian shifts stance on inflation and now thinks it has peaked as recession looms
- Top economist Mohamed El-Erian told CNBC on Friday that inflation in the US has peaked.
- "The problem is that inflation is going to come down with growth probably going into a recession, and that's not good news."
- Last month, he said inflation hadn't peaked yet amid high energy prices.
He noted that the global economy is slowing rapidly while central banks are tightening policy, which should have their intended effect on inflation.
"I think inflation has peaked in the US, at least for the next three to four months. We've got to see how sticky some elements are," El-Erian told CNBC on Friday. "But the problem is not that inflation is going to come down — that's a really good thing. The problem is that inflation is going to come down with growth probably going into a recession, and that's not good news."