{"id":576274,"date":"2021-06-29T11:06:13","date_gmt":"2021-06-29T15:06:13","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=576274"},"modified":"2021-06-29T11:06:14","modified_gmt":"2021-06-29T15:06:14","slug":"economist-says-hes-concerned-fed-will-miss-the-mark-on-inflation-could-prompt-recession","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/economist-says-hes-concerned-fed-will-miss-the-mark-on-inflation-could-prompt-recession\/","title":{"rendered":"Economist says he\u2019s concerned Fed will miss the mark on inflation, could prompt recession"},"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\">28<\/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%2Feconomist-says-hes-concerned-fed-will-miss-the-mark-on-inflation-could-prompt-recession%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=576274&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 id=\"attachment_2440101\" class=\"wp-caption aligncenter\">\n<p id=\"caption-attachment-2440101\" class=\"wp-caption-text\">Rep. Steve Scalise, R-La., speaks as Federal Reserve Board chairman Jerome Powell testifies on the Federal Reserve\u2019s response to the coronavirus pandemic during a House Oversight and Reform Select Subcommittee on the Coronavirus hearing on Capitol Hill in Washington, Tuesday, June 22, 2021. (Graeme Jennings\/Pool via AP)<\/p>\n<\/div>\n<h5>OAN Newsroom<br \/>UPDATED 7:52 AM PT \u2013 Tuesday, June 29, 2021<\/h5>\n<p>A prominent economist said he\u2019s concerned the Federal Reserve is falling behind on their response to inflation. During an <a href=\"https:\/\/www.youtube.com\/watch?v=XoKBmZoLzWA\">interview<\/a> with CNBC Monday, Mohamed El-Erian, an economic adviser for Allianz, said he thinks the central bank is underestimating the current inflation pressures. He also pushed back on the Fed\u2019s message that inflation is temporary.<\/p>\n<p>\u201cEvery day I see evidence of inflation not being transitory and I have concern that the Fed is falling behind,\u201d El-Erian stated. \u201cAnd that it may have to play catch-up and history makes you very uncomfortable if you end up in a world in which the Fed has to play catch-up.\u201d<\/p>\n<p>The economist said if the Fed misses the mark on inflation, they would be forced to raise interest rates earlier and faster than planned. He warned such a move would likely result in a recession as the central bank would be \u201cslamming on the brakes\u201d rather than \u201cletting off the accelerator slowly.\u201d<\/p>\n<p>Interest rates aren\u2019t the only thing that would increase. According to the <a href=\"https:\/\/www.cnbc.com\/global-cfo-council\/\">CNBC Global CFO Council Survey<\/a>, one-third of American CFO\u2019s stated they would be forced to raise prices if inflation continues. U.S. based CFO\u2019s also argued that inflation is the biggest external factor their businesses are facing.<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">Seems like every company right now is increasing their prices. <\/p>\n<p>You can thank the Biden inflation tax.<\/p>\n<p>\u2014 Rep. Jim Jordan (@Jim_Jordan) <a href=\"https:\/\/twitter.com\/Jim_Jordan\/status\/1409579224130801665?ref_src=twsrc%5Etfw\">June 28, 2021<\/a><\/p>\n<\/blockquote>\n<p>While many economists argue current inflation rates are transitory, those actually dealing with the money in their businesses are more wary.<\/p>\n<h4>MORE NEWS:&nbsp;<a href=\"https:\/\/www.oann.com\/al-gore-claims-election-audits-are-absolutely-nuts\/\">Al Gore Claims Election Audits Are \u2018Absolutely Nuts\u2019<\/a><\/h4>\n","protected":false},"excerpt":{"rendered":"<p>Rep. Steve Scalise, R-La., speaks as Federal Reserve Board chairman Jerome Powell testifies on the Federal Reserve\u2019s response to the coronavirus pandemic during a House Oversight and Reform Select Subcommittee &#8230;<\/p>\n","protected":false},"author":7,"featured_media":2313635,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"Economist says he\u2019s concerned Fed will miss the mark on inflation, could prompt recession","footnotes":""},"categories":[],"tags":[],"class_list":["post-576274","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"fifu_video_url":"https:\/\/www.youtube.com\/watch?v=XoKBmZoLzWA","fifu_image_alt":"Economist says he\u2019s concerned Fed will miss the mark on inflation, could prompt recession","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/576274","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\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=576274"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/576274\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2313635"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=576274"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=576274"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=576274"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}