El-Erian is chief economic adviser at Allianz, he spoke in an interview with CNBC on Monday (US time). Highlights:
- believes inflation will be persistent
- cites evidence from different industries and Warren Buffett: "Warren Buffett made it very clear that we are in the midst of an inflationary process, talked about 'very substantial' inflationary pressure
- Says the Fed is painting itself into a corner with its "transitory" characterisation of inflation, its not keeping an open mind
The video of his interview is here, link
