Powell's Fed may be remembered not for conquering inflation but for undermining its own credibility, Mohamed El-Erian says
The Federal Reserve led by Jerome Powell will likely be remembered more for undermining its own credibility than for taming inflation, according to top economist Mohamed El-Erian.
El-Erian has repeatedly criticized Powell's Fed, blaming them for a string of failures over the past couple of years in tackling high US inflation. He's slammed the Fed for acting too late to tame inflation as they dismissed rising prices as a"transitory" phenomenon in 2021, and then unleashing an aggressive monetary-tightening campaign that has ignited fears of recession.
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