{"id":54774,"date":"2021-11-13T01:51:25","date_gmt":"2021-11-12T21:51:25","guid":{"rendered":"https:\/\/noortrends.ae\/en\/?p=54774"},"modified":"2021-11-13T01:51:29","modified_gmt":"2021-11-12T21:51:29","slug":"feds-inflation-response-criticized","status":"publish","type":"post","link":"https:\/\/noortrends.ae\/en\/feds-inflation-response-criticized\/11\/13\/market-updates\/","title":{"rendered":"Fed\u2019s Inflation Response Criticized"},"content":{"rendered":"\n<p>Mohamed El-Erian, chief economic adviser at Allianz SE, criticized the Federal Reserve&#8217;s long-standing narrative of transitory inflation on Friday following data that revealed prices are rising at the fastest rate since 1990.<br><br>&#8220;There are lots of structural changes going on in the post-pandemic economy &#8230; you can&#8217;t simply dismiss them as transitory,&#8221; El-Erian told Bloomberg in a TV interview on Friday. &#8220;So it is going to go down in history as one of the worst inflation calls by the Federal Reserve&#8221;, he added.<br><br>The Consumer Price Index gained 0.9% in month-over-month in October, the Bureau of Labor Statistics said Wednesday, far higher than economists&#8217; expectation of 0.6%. <br><br>The reading marks an acceleration from the 0.4% gain seen in September and the largest one-month jump since 2008. Year-over-year, inflation at 6.2% is the highest in 30 years.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Mohamed El-Erian, chief economic adviser at Allianz SE, criticized the Federal Reserve&#8217;s long-standing narrative of transitory inflation on Friday following data that revealed prices are rising at the fastest rate since 1990.&#8220;There are lots of structural changes going on in the post-pandemic economy &#8230; you can&#8217;t simply dismiss them as transitory,&#8221; El-Erian told Bloomberg in &hellip;<\/p>\n","protected":false},"author":13,"featured_media":32893,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[37,36],"tags":[8021,6885,6987,7852,6858],"class_list":["post-54774","post","type-post","status-publish","format-standard","has-post-thumbnail","","category-forex-markets","category-market-updates","tag-allianz","tag-fed","tag-inflation","tag-inflation-pressures","tag-us-economy"],"_links":{"self":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/54774","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/users\/13"}],"replies":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/comments?post=54774"}],"version-history":[{"count":2,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/54774\/revisions"}],"predecessor-version":[{"id":54780,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/posts\/54774\/revisions\/54780"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media\/32893"}],"wp:attachment":[{"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/media?parent=54774"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/categories?post=54774"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/noortrends.ae\/en\/wp-json\/wp\/v2\/tags?post=54774"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}