Inflation Set to Drop But Remain Above Fed Target, Warns Top Economist El-Erian
-
Inflation will drop sharply but not reach the Fed's 2% target soon, per top economist Mohamed El-Erian.
-
El-Erian points to inflationary pressures emerging across the global economy.
-
Those global pressures won't dissipate anytime soon, he warns.
-
Cracks in global economy, lingering pandemic supply issues, and green transition all add inflation.
-
Fed has "more work" to control inflation, officials say, suggesting more rate hikes ahead.