Mohamed El-Erian is Allianz SE's chief economic adviser and ex of PIMCO (and a smart cookie indeed)
Speaking On Fox, Bloomberg have the highlights:
Comments on the Fed;
- "Even the Fed is understanding that it needs to communicate better
- needs to "show that it is more sensitive to markets and what's happening outside"
Economy likely to continue growing at 2.5 to 3% absent a "major policy mistake."
On stocks:
- turmoil in Washington, including a government shutdown, is a factor in the market's recent decline and "unsettling volatility."
- But a bigger factor is that the global economy -- notably China and Europe -- has become more uncertain.
- With the Fed and the European Central Bank tightening liquidity, "it's no longer about buying every dip, it's about selling every rally," El-Erian said. "There's a lot going on -- and this is being amplified by computer trading."
Link to Bloomberg for more
Please ensure 'Mo money, mo problems' gets onto your NYE playlist
