Renowned economist Mohamed El-Erian believes inflation will come down by the end of the year but “will be sticky.”
“I’m looking for a core CPI in the 4.5% to 5.5% range, so well above the 2% target of the Fed,” the chief economic adviser of Allianz said on Influencers with Andy Serwer (video above).
The latest monthly Consumer Price Index (CPI) reading came in at 9.1%, the highest level since November 1981. The reading for July CPI will be released on Wednesday.
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