El-Erian Urges Fed to Adopt Strategic Vision, Cautions Bond Volatility Could Break Economy

Mohamed El-Erian argues the Fed has been too backward-looking and lacks a strategic vision, saying it's like "driving a car on a curvy road while looking through the rear-view mirror."

He believes the economy is at an inflection point, wanting "greater vision" from the Fed rather than just being "data-dependent."

El-Erian warns that bond market volatility could "break something" in the economy if not stabilized.

His new book "Permacrisis" examines how the world stumbles "from crisis to crisis", proposing solutions.

Concrete steps can be taken to address concerns like durable growth, policy mistakes, and lack of coordination, making El-Erian hopeful.