Economist Mohamed El-Erian: Most current inflation ‘could have been avoided’ if Fed acted earlier
Most of the current record high inflation could have been avoided had the Federal Reserve acted earlier and shown humility after it wrongly described inflation as “transitory,” economist Mohamed El-Erian said Sunday. El-Erian, chief economic advisor at Allianz, appeared on CBS’s “Face the Nation” to discuss what caused the current inflation and where it was…