Professor, Wharton School, and Senior Fellow, Lauder Inst (both at UPenn). Allianz Chief Economic Advisor. Chair, UnderArmour Board of Directors. Board member, NBER. CFR. Former co-CIO/CEO PIMCO and President, Queens' College, Cambridge University.
Mohamed A. El-Erian
...on the committee (highly unusual). It is is navigating a complicated macroeconomic landscape while also in deep need of reform.
The most interesting aspect of today’s outcomes will not be the rate decision, where the universal expectation is no change. Rather, it will be how the ...
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Mohamed A. El-Erian
Extraordinary: With what is now a 61% surge from its IPO price, SpaceX’s market cap has just surpassed Amazon’s.
(CNBC chart below.)
#markets
As I just discussed with Sandra Smith on America Reports--thank you, Sandra, for having me on--the 20% plunge in oil prices over the past few days means real relief for US households. Expect the nationwide price for regular gas to drop below $4 a gallon, and diesel to below $5 in the coming days.
UK headline inflation held steady at 2.8% in May, coming in cooler than the consensus forecast of 3.0%. Core inflation edged higher, from 2.5% to 2.6%.
This data release is pushing market yields lower and traders' ...
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... expectations that the Bank of England will hold off on a rate hike tomorrow.
Interestingly, UK inflation is, at least for now, running below that of both the US and the Eurozone.
#economy #markets #inflation @bankofengland.bsky.social
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Further to earlier posts and my FT article:
Once again the reaction of government bond yields is notably muted in the face of yet another leg down in oil prices.
(CNBC data below.)
#economy #markets #bonds
Today is quite a historic day at the Federal Reserve, which concludes its two-day policy meeting with the traditional duo of a committee statement and the Chair’s press conference.
This is a Fed now operating under a new Chair (Kevin Warsh) while the prior Chair (Jerome Powell) remains on...
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FYI, my thoughts on the economic aspects of the US-Iran memorandum of understanding, including four issues to watch:
www.project-syndicate.org/commentary/u...
#economy #markets #oil #energy #middleeastwar @projectsyndicate.bsky.social
... Committee characterizes the balance of risks to the Fed's dual mandate, and how Chair Warsh initiates what many (including myself) see as a long-overdue revamp of the central bank's operational approaches, starting with communication.
#economy #markets #federalreserve
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