We are still not out of peak inflation – that is according to economist Mohamed El-Erian.
He predicted that inflation could reach 9%.
Most of the current record high inflation could have been avoided had the Federal Reserve acted earlier and shown humility after it wrongly described inflation as “transitory,” economist Mohamed El-Erian said Sunday.
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El-Erian fears that in this current period of “stagflation” – low growth, high inflation – inflation may reach 9%. He called it the darkest picture of what could lead to a recession.
Zero Hedge is also predicting terrible news for the future of the US economy.
Zero Hedge: Tsunami Of Mass Layoff Announcements Coming – Negative Payrolls By August
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