Fed Faces Hard Discussion in Jackson Hole Run-Up, El-Erian Says

The Federal Reserve faces a “hard discussion” in response to a slowing U.S. economy before the Kansas City Fed’s conference in Jackson Hole, Wyoming, according to Mohamed El-Erian, chief executive officer of Pacific Investment Management Co.

“People have gone from asking is the Fed going to do something to will the Fed be effective in doing something,” El-Erian said in a Bloomberg Television interview today on “In the Loop” with Betty Liu.