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Mohamed El-Erian Predicts the Fed's Response to Inflation Will Push Crypto Higher
Summary: Allianz Chief Economic Advisor Mohamed El-Erian said in an interview with CNBC today that the Federal Reserve’s response to inflation will cause the prices of cryptocurrencies, like bitcoin, to “go higher.” He noted, “That’s what you get when you’ve waited too long to recognize what inflation is and to take action.” He explained, " think the ...
Allianz Chief Economic Advisor Mohamed El-Erian said in an interview with CNBC today that the Federal Reserve’s response to inflation will cause the prices of cryptocurrencies, like bitcoin, to “go higher.” He noted, “That’s what you get when you’ve waited too long to recognize what inflation is and to take action.”
He explained, " think the markets have understood that we have three issues. One is high, persistent inflation is with us. Two is the Fed is way behind, and three, the pathway for orderly disinflation is pretty narrow." He noted that investment bank Goldman Sachs came out Monday saying that there is a 35% probability of a recession in the next two years.
By Amy Liu
Tags: Crypto,Fed,inflation,Mohamed El-Erian
Link: Mohamed El-Erian Predicts the Fed's Response to Inflation Will Push Crypto Higher [Copy]
