(Bloomberg) — Mohamed El-Erian emphasizes the importance of the Federal Reserve refocusing on combating inflation following
His remarks were prompted by the release of Friday’s data, which exceeded expectations and led to a surge in US stocks and bond yields. Nonfarm payrolls increased by 254,000 in September, marking the highest gain in half a year.
“These numbers indicate not just a stable labor market but potentially a robust one as we near the end of an economic cycle,” stated El-Erian, who serves as president of Queens’ College, Cambridge, during an interview with Bloomberg Television on Friday.
He urged the Fed
Following the
2024-10-04 10:22:49
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