Top economist Mohamed El-Erian has once again taken aim at the Federal Reserve over its lateness in fighting inflation and underscored the threat of the institution's credibility being chipped away. on Monday, El-Erian flagged risks tied to the Fed not making the"first best" measure in handling the US economy, coupled with the central bank's instances of"confusing communication" that's eroded the power of its forward policy guidance.
He pointed to commentary from Raghuram Rajan, former Indian central bank governor and University of Chicago's Booth finance professor, who told Reuters that the Fed is"a little bit in a situation where they're damned if they do, and damned if they don't."
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