Allianz chief economic adviser Mohamed El-Erian said in an interview on Fox News and an op-ed in Bloomberg on Nov. 28 that the emergence of the Omicron variant of the CCP (Chinese Communist Party) virus has revived market fears of stagflation.
“Faster inflation is a given,” El-Erian, who also serves as president of Queens’ College, Cambridge, wrote in Bloomberg, with his remarks reinforcing concerns about the persistence of price pressures after recent U.S. government data showed over-the-year consumer price inflation running at a three-decade high in October and accelerating its monthly pace from the prior month.
