Allianz Chief Economic Adviser: Inflation Will Continue For Another Year
(Cambridge) — Allianz Chief Economic Adviser Mohamed El-Erian –a regular contributor to Mottek on Money, evenings at 6 on 790 KABC–says high inflation in the U.S. will probably continue for another year before it starts to slow down. Speaking on Fox News Sunday, Mohamed calls rising inflation a mixed bag for the economy. He cites increased spending power for driving up the costs of goods and services which he views as a good thing. On the down side, Mohamed noted problems with the supply chain and said he hopes that gets fixed soon. The economist also said the pandemic has changed the behaviors of American workers and says views have changed on work-life balance