Economist Mohamed El-Erian has warned that a third wave of inflationary pressures is building and will be “unleashed” if the Federal Reserve doesn’t act quickly.
El-Erian, the former CEO of American investment management firm Pimco, made the comments on social media on July 13, shortly after financial markets were shocked by the U.S. annual inflation rate rising to 9.1 percent in June, marking its highest level since November 1981.
