(CNBC) The Federal Reserve’s efforts to fight inflation threaten to sink the U.S. into contraction, according to economist Mohamed El-Erian. Following the U.S. central bank’s decision earlier this month to increase interest rates for the first time in more than three years, markets now expect the Fed to get even more aggressive.
El-Erian warns of ‘cost of living crisis,’ says Fed rate hikes could cause recession
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