El-Erian Says Fed Contributing to ‘Undue’ Market Volatility

Mohamed El-Erian, chief economic adviser at Allianz and Bloomberg Opinion columnist, says markets are giving back an “overreaction” to Federal Reserve Chair Jay Powell’s speech on Wednesday after Friday’s strong jobs report. “Once again, the Fed didn’t understand the behavioral aspects of markets. So while Chair Powell went out of his way to be balanced, he did a few things that made the market hear just what it wanted to hear,” El-Erian says. Rick Rieder, global fixed income CIO at BlackRock, also discusses his takeaways from the November US employment report and credit strategy on “Bloomberg The Open.”
——–
Follow Bloomberg for business news & analysis, up-to-the-minute market data, features, profiles and more: http://www.bloomberg.com
Connect with us on…
Twitter: https://twitter.com/business
Facebook: https://www.facebook.com/bloombergbusiness
Instagram: https://www.instagram.com/bloombergbusiness/