Inflation ‘Could Have Been Avoided,’ If Fed Had Acted Earlier: Allianz Economist

Inflation ‘Could Have Been Avoided,’ If Fed Had Acted Earlier: Allianz Economist
Mohamed El-Erian, chief economic adviser for Allianz at FOX Studios in New York on April 29, 2016. Rob Kim/Getty Images
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Allianz chief economic adviser Mohamed El-Erian said in an interview that the current inflation problem in the United States could have been largely avoided if the Federal Reserve acted earlier.

“The problem for us all is they’re far away from the first best response,” El-Erian told CBS’ “Face the Nation” on June 12. “This is going to have enormous economic, social—it hits the poor—particularly hard institutional and political consequences. And most of it could have been avoided, had early actions been taken,” he added.
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