Nine Point One - with Mohamed El-Erian

Call Me Back - with Dan Senor

Ark Media

Society, October 7, Hamas, War, Foreign Policy, Geopolitics, Israel, News Commentary, News, Politics, Elections, Palestine, Dan Senor, Government

4.8 • 2.3K Ratings

🗓️ 14 July 2022

⏱️ 39 minutes

🔗️ Recording | iTunes | RSS

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Summary

Inflation hit a staggering 9.1% over the last 12 months, rising 1.3% for the month of June. The increases were “broad-based,” as the Bureau of Labor Statistics (BLS) put it, touching just about every aspect of our lives…especially food prices and energy prices. In anticipation of these new numbers, we invited Dr Mohamed El-Erian back to the podcast. He is President of Queens' College at Cambridge University. Mohamed serves as part-time Chief Economic Advisor at Allianz and Chair of Gramercy Fund Management. He’s a Professor at The Wharton School, he is a Financial Times contributing editor, Bloomberg Opinion columnist, and the author of two New York Times best sellers. He serves on several non-profit boards, including the NBER, and those of Barclays and Under Armour. From 2007-2014, Mohammed served as CEO/co-CIO of PIMCO, which has over two trillion under management. He worked at PIMCO for a total of fourteen years, and was chair of President Obama's Global Development Council. He also served two years as president and CEO of Harvard Management Company, the entity that manages Harvard’s endowment. He has been chair of the Microsoft Investment Advisory Board since 2007 Mohammed is expert in many domains when it comes to the financial markets and the macro economy, but especially - inflation.

Transcript

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0:00.0	About a year ago it became clear to some of us that it was foolish of the Federal Reserve to dismiss inflation as transitory.
0:10.0	That there was too much evidence coming, particularly from companies, that this inflationary process was starting to get entrenched. Had the Fed at that point kept an open mind rather than repeat over and over the mantra that inflation was
0:27.5	transitory, something that it maintained all the way till the last day of November, it could have started to soft land the economy.
0:38.0	And by soft land, economists means that you don't sacrifice much growth, but you're able to contain inflation.
0:46.0	It didn't. inflation has hit a staggering 9.1% over the last 12 months, rising 1.3% for the month of June.
1:08.5	The increases were, quote, broad-based, as the Bureau of Labor Statistics put it, touching just about every aspect of our lives,
1:16.5	especially food prices and energy prices.
1:19.5	In anticipation of these numbers, we invited Dr. Mohammed Al-Arrian back to the
1:23.8	podcast Mohammed was on a few months ago to talk then about what we called the new
1:28.8	inflation. That conversation was a big hit so we were looking forward to getting him back.
1:35.2	He's president of Queens College at Cambridge University.
1:37.8	He serves as part-time chief economic advisor at Aliyanne's and chair of Grand Mercy Fund
1:42.3	Management.
1:43.7	Mohammed's also a professor at the Wharton School.
1:45.9	He's a Financial Times contributing editor, a Bloomberg Opinion columnist, and the author of
1:50.9	two New York Times bestsellers.
1:53.0	He also serves on non-profit boards, including the National Bureau of Economic Research,
1:58.0	and also the boards of Barclays and Under Armour. But from 2007 to 2014, Mohammed served as CEO and co-cio of PIMCO, which has over $2 trillion under management. He worked at Pimco for a total of 14 years and he was also
2:14.8	chairman of President Obama's Global Development Council. He previously served
2:20.1	two years as president and CEO of Harvard Management Company, the entity that manages Harvard's
2:25.3	Endowment, and he has been chair of the Microsoft Investment Advisory Board since 2007.
2:31.5	Mohammed is expert in many domains when it comes to the financial markets and the
	...

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