Fed doesn’t have a ‘single strategic bone in it’: Mohamed A. El-Erian
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There has been a lot of talk about the impact of higher Treasury yields and the Federal Reserve. But what does it mean for the average American? Allianz Chief Economic Advisor Mohamed El-Erian says that for the average person, it means “your mortgage rate on a 30-year above 8%. It freezes the housing market even more. It means higher borrowing costs for both households and businesses, so it’s not good news for the economy.” El-Erian’s biggest concern “is the violency of the move.” “There’s a fear, and I hope it’s just a fear, that this could break something,” El-Erian tells Yahoo Finance Live. El-Erian argues that the Fed has been […]