El-Erian Says Fiscal Restraint Is Better Tool to Tackle Inflation
Mohamed El-Erian said the Federal Reserve is relying on the wrong policy tool to address inflation and rising bond yields, arguing fiscal restraint would be more appropriate than tighter monetary policy.
Mohamed El-Erian, chief economic adviser at Allianz, said on Monday that the Federal Reserve is relying on the wrong policy tool to address inflation and rising bond yields, stating that fiscal restraint would be a more appropriate response than tighter monetary policy.“My problem is that it's the…