Mohamed El-Erian says inflation is not “transitory” - its here to stay

Author: Eamonn Sheridan | Category: Central Banks

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
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