El-Erian says ‘transitory’ was the ‘worst inflation call in the history’ of the Fed

Calling inflation “transitory” was a historically bad move for the Fed, according to Allianz Chief Economic Advisor Mohamed El-Erian.

The comments came after the Labor Department reported that the consumer price index rose 6.8% from a year ago in November.

The Fed has a policy meeting this week during which it is expected to act to combat inflation.
https://www.cnbc.com/2021/12/13/el-e...f-the-fed.html