Mohamad El-Erian, Bloomberg Opinion Columnist, discusses Chairman Powell's comments, market confusion, and the consequences of bullying the Fed. He argues against transitory inflation and highlights the impact of the labor market on price pressure. El-Erian explores the untapped valuation advantage of investing in emerging markets and analyzes the potential risks and opportunities associated with rate cuts in the coming year.

Global economist Mohamad El-Erian, former UK Prime Minister Gordon Brown, and renowned scholar Michael Spence discuss their new book 'Permacrisis'. They explore the decline of global cooperation, the importance of hope in politics and building trust, lessons from the Federal Reserve's mistakes, the challenges of the climate transition, and the significance of long-term goals for democracies.