Mohamed El-Erian, who serves as the Chief Economic Advisor at the German financial giant Allianz, does not believe that the Federal Reserve will cut interest rates early next year. He stated this in an interview with CNBC.
“I don’t think it will happen,” said the financial veteran.
El-Erian further mentioned that it is likely that both core inflation and overall inflation will remain above the central bank’s target of 2 percent.
Later today, fresh U.S. inflation figures will be released.