El-Erian spoke in an interview with Bloomberg (gated) Television on Thursday:
- “It is problematic in my mind that the market is pricing in so many rate cuts right now”
- “The market is overdoing it”
- “There’s this notion of a hard landing policy response to achieve a soft landing, that has got to be reconciled one way or another”
- “The market’s going to have to adjust at some point”
El-Erian is forecasting 75 basis points of interest rate cuts by the end of this year.
---
Meanwhile, the long-awaited day is upon us! Federal Reserve Chair Powell speaks at 10am US Eastern time at the Kansas City Fed's annual central bank symposium taking place in Jackson Hole, Wyoming.
