El-Erian Warns Fed After Jobs Data: ‘Inflation Is Not Dead’
- US job growth in September topped all estimates, data showed
- Traders pull back on wagers on big Fed cuts to come this year
This article is for subscribers only.
Mohamed El-Erian says the Federal Reserve needs to renew its focus on its fight against rising prices after September’s surprisingly hot jobs report served as a reminder that “inflation is not dead.”
His comments came after Friday’s numbers blew away estimates, triggering a jump in US stocks and bond yields. Nonfarm payrolls rose by 254,000 in September, the most in six months.