El-Erian Urges 25 Basis-Point Hike Saying Fed Shouldn’t Blink

Mohamed El-Erian called on the Federal Reserve to raise its main interest rate by 25 basis points at this week’s meeting and couple the move with an assurance of its commitment to financial stability.

“The worst thing they can do is blink in the eye — in the front of financial instability,” El-Erian, chief economic adviser at Allianz SE and a Bloomberg Opinion columnist, said on “Fox News Sunday.”