{"id":1115211,"date":"2021-12-13T16:13:38","date_gmt":"2021-12-13T21:13:38","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1115211"},"modified":"2021-12-13T16:13:40","modified_gmt":"2021-12-13T21:13:40","slug":"el-erian-says-calling-inflation-transitory-was-likely-feds-call-worst-ever","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/el-erian-says-calling-inflation-transitory-was-likely-feds-call-worst-ever\/","title":{"rendered":"El-Erian Says Calling Inflation &#039;Transitory&#039; Was Likely Fed\u2019s Call Worst Ever"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">22<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fel-erian-says-calling-inflation-transitory-was-likely-feds-call-worst-ever%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1115211&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2021\/11\/mohamed-el-erian-640x335-1.jpg\" class=\"ff-og-image-inserted\" \/><\/div>\n<p class=\"subheading\">Federal Reserve Chairman Jerome Powell and Treasury Secretary Janet Yellen have finally dropped the word \u201ctransitory\u201d to describe inflation but critics say the Fed still is not moving fast enough to counter inflation.<\/p>\n<p>\u201cThe characterization of inflation as transitory, is probably the worst inflation call in the history of the Federal Reserve,\u201d said Mohammed El-Erian, chief economic adviser for Allianz, on CBS\u2019s \u201cFace the Nation\u201d program on Sunday.<\/p>\n<figure id=\"D-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"M-ROS-B1\" class=\"a8d\"><\/figure>\n<figure id=\"gmxrevmore\" class=\"H\"><\/figure>\n<p>The Labor Department on Friday reported that consumer prices rose by 6.9 percent in the 12 months ending November, the fastest clip for inflation in 39 years. The Federal Reserve\u2019s monetary policy committee is meeting this week to assess the economy and set the path for monetary policy going into the new year.<\/p>\n<figure id=\"M-ROS-B2\" class=\"a8d\"><\/figure>\n<p>El-Erian said that the Fed\u2019s underestimation of inflation \u201cresults in a high probability of a policy mistake.\u201d<\/p>\n<p>\u201cSo the Fed must quickly, starting this week, regain control of the inflation narrative and regain its own credibility. Otherwise, it will become a driver of higher inflation expectations that feed off themselves,\u201d El-Erian said.<\/p>\n<p>In an opinion piece <a href=\"https:\/\/www.bloomberg.com\/opinion\/articles\/2021-12-12\/fed-meeting-central-bank-needs-to-go-beyond-doubling-its-taper-rate?sref=Hpp1MmFS\">published<\/a> at Bloomberg, El-Erian wrote that the Fed must go beyond announcing that it will double the pace of the winddown of its bond-buying program.<\/p>\n<p>\u201cThe Fed has a simple choice this week. It can either continue with its gross mishandling of inflation or, instead, start regaining credibility and its control of the narrative on inflation and monetary policy,\u201d El-Erian wrote.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Federal Reserve Chairman Jerome Powell and Treasury Secretary Janet Yellen have finally dropped the word \u201ctransitory\u201d to describe inflation but critics say the Fed still is not moving fast enough &#8230;<\/p>\n","protected":false},"author":11,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1115211","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1115211","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1115211"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1115211\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1115211"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1115211"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1115211"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}