Mohamed El-Erian, Allianz’s chief economic advisor ,spoke with CNBC on Tuesday, says an assumption that the Federal Open Market Committee (FOMC) is going to be able to cut rates early next year is wrong:
- “I don’t think that’s going to happen.”
El Erian says its likely that core and headline inflation both prove sticky, persisting above the Fed’s 2% target
This article was written by Eamonn Sheridan at www.forexlive.com. Source