Arab Canada News
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Published: June 14, 2022
Mohamed El-Erian, Chief Economic Adviser at Allianz, said that the inflation rate in the United States may rise further and that the risks of recession are "leaning negatively at the moment," according to Bloomberg agency.
El-Erian said on the program "Face the Nation" on CBS network: "I think one must be very humble about what we know about this inflation process." "And I fear that things will get worse. We may reach 9% at this rate."
The annual increase in consumer prices in the United States unexpectedly accelerated to 8.6% in May, the highest new level in 40 years, likely prompting the Federal Reserve to extend the tightening cycle and continue raising interest rates.
Tuesday, 01 July 2025
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