As Wholesale Inflation Cools In August, El-Erian Says The Question To Fed Should Be 'Why Not 50?’: Report
Synopsis
In an interview with CNBC, El-Erian was reacting to the August PPI report, which showed wholesale inflation declined by 0.1%.
Mohamed El-Erian, Chief Economic Advisor at Allianz, reportedly said on Wednesday that the question to be asked of the Federal Reserve is, why should it not cut interest rates by 50 basis points in September, given that wholesale inflation in August came in cooler than expected.
In an interview with CNBC, El-Erian was reacting to the PPI report for August that showed wholesale inflation declined by 0.1%, while a Dow Jones estimate pointed to an increase of 0.3%, according to MarketWatch.
Get updates to this developing story <directly on Stocktwits<.<
For updates and corrections, email newsroom[at]stocktwits[dot]com.<
Stay updated with all the latest Business News, including market trends, Share Market News, stock updates, taxation, IPOs, banking, finance, real estate, savings, and investments. Track daily Gold Price changes, updates on DA Hike, and the latest developments on the 8th Pay Commission. Get in-depth analysis, expert opinions, and real-time updates to make informed financial decisions. Download the Asianet News Official App from the Android Play Store and iPhone App Store to stay ahead in business.