Chief economist says US headed to recession that was ‘totally avoidable’ ...Middle East

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Mohamed El-Erian, Allianz’s chief economic adviser, said on Sunday that the U.S. is heading toward a recession that was “totally avoidable” amid ongoing concerns about inflation and economic stability. “I fear that we risk a very high probability of a damaging recession that was totally avoidable,” El-Erian told CBS’ “Face the Nation,” arguing that the Federal Reserve has made mistakes that will “go down in the history books.” “One is mischaracterizing inflation as transitory. By that, they meant it is temporary, it's reversible, don't worry about it. That was mistake number one. And then mistake number two, when they finally recognized that inflation was persistent and high. They

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Last updated : 09 October 2022 clock 09:45 PM

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Chief economist says US headed to recession that was ‘totally avoidable’ ...Middle East

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