Mohamed El-Erian of Pimco spoke to CNBC this morning ahead of the Fed’s announcement on how it intends to deal with the current economic situation.
- 0:40 The Fed will revise its language, point to disinflation, and further explain that there is an uncertain outlook.
- 1:00 It is unknown whether the Fed will push for more risk taking in the market.
- 1:30 The country is facing structural problems, and the Fed can’t solve them.
- 2:15 The Treasury is not likely to step up to solve the problem.
- 2:50 Anyone who doubts how dangerous deflation is should get on a plane and go to Japan.
- 3:35 The government has to sell a long term vision on how to increase employment and provide structural solutions.
- 4:05 We have to be honest about national and global realignments.
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