El-Erian: Diesel prices at record highs highlight Fed tradeoff
Mohamed El-Erian, Allianz chief economic adviser, said he looks at diesel prices in the morning and noted diesel is hitting record highs, framing the Fed’s policy dilemma.
Mohamed El-Erian, former head of fixed-income powerhouse Pimco and now chief economic adviser at Allianz, said on CNBC that the first thing he looks at in the morning is diesel. He said diesel prices, which he described as the lifeblood of many parts of the economy, are hitting records daily, and that this underscores a Fed tradeoff.