El-Erian Says Fed Has a ‘Real Problem’ With Communication
- Markets now pricing in nearly six Fed rate cuts in 2024
- US central bank is being ‘bullied’ by markets, El Erian says
This article is for subscribers only.
There’s a key piece of evidence in the bond-market surge that followed the latest US central-bank meeting, according to Mohamed El-Erian: The Federal Reserve has a communication problem.
Nearly a week after policymakers left interest rates on hold and unveiled projections for more cuts than previously expected in 2024, traders and Fed officials are still at odds over the path for policy, said El-Erian, the president of Queens’ College, Cambridge, and a Bloomberg Opinion columnist.