Mohamed El-Erian said the drivers of inflation are broadening, and a headline print higher than 8.5 per cent is likely later this year.
Mohamed El-Erian, who almost a year ago accurately forecast that elevated US inflation would be persistent, says it hasn’t peaked.
Annual inflation likely climbed at an 8.2 per cent pace in May, according to the median projection in a Bloomberg survey ahead of the release on Friday. That’s still more than four times the levels seen before the pandemic. While some economists see the Fed’s rate-hike regime as likely to push the US economy into a recession, El-Erian, a Bloomberg Opinion columnist, says that is his “risk scenario. Stagflation is my base line”.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Steph Gilmore takes out El Salvador ProSeven-time world champion Steph_gilmore has won the El Salvador Pro, registering her 33rd victory to break her own record for most women's wins on the Tour. 7NEWS
Read more »
President tells people of El Salvador to 'enjoy life' after blowing $87 million on BitcoinEl Salvador&x27;s Bitcoin-boosting president has asked people to be patient after the price of the cryptocurrency fell below $28,700 - less than half the price the government paid.
Read more »
‘Each day is agony’: the lives swept up in El Salvador’s mass arrestsAs President Nayib Bukele arrests tens of thousands over gang fears, activists and family members grapple with the fallout
Read more »
Gilmore triumphs at El Salvador Pro, breaking own record for most WSL winsThe seven-time world champion registered a record 33rd WSL victory by defeating American Lakey Peterson in El Salvador final with a 7.33 ride
Read more »
‘It’s a war on the people’: El Salvador’s mass arrests send thousands into despairAt least 38,000 people have been arrested under Nayib Bukele’s draconic state of exemption
Read more »