Posted 4/5/2024, 1:32:55 PM
El-Erian Urges Fed to Cut Rates Despite Strong Jobs Data
- El-Erian still expects 2 Fed rate cuts this year despite strong jobs data
- Traders now pushing back expectations for timing of first rate cut to September
- El-Erian says Fed should look past "backward-looking data" and cut rates based on forward outlook
- If Fed is "overly data dependent" it may not cut rates
- El-Erian thinks it would be a mistake for Fed to become "play-by-play commentator" rather than looking through data
