Surveillance: Banking Tremor with El-Erian
Bloomberg Surveillance
00:00
The Fed's Failure to Manage Interest Rates
A decade of zero interest rates and then going from zero to five like that? So we've had three stages of this tragedy. Stage one was too loose for too long. The second problem is that the Fed mischaracterized inflation. When you start late, you end up going higher and staying there for longer.
Play episode from 04:51
Transcript
