WSJ's Take On the Week
Why Mohamed El-Erian Is Worried About a 2024 Recession
Nov 8, 2023
Mohamed El-Erian, chief economic advisor at Allianz, discusses his concerns about a 2024 recession, policy mistakes by the Federal Reserve, the confusion in the bond market, inflation's impact on purchasing power, compromised resilience in various sectors, and the potential for reversal in labor augmenting transformations. The importance of hope and change in economic decision-making is also explored.
25:28
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Quick takeaways
- Maintaining inflation stability is crucial for high, inclusive, and sustainable growth.
- The loss of economic, policy, and technical anchors has introduced volatility and complexity into the US economy, raising concerns about a recession in 2024.
Deep dives
The Importance of Inflation, Growth, and Interest Rates
Understanding what's happening to inflation, growth, and interest rates is crucial as they provide key insights into the future. Inflation affects the actions of the Federal Reserve, impacts the poor, and influences macro stability. Maintaining inflation stability is essential for high, inclusive, and sustainable growth.
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