{"id":22576,"date":"2024-10-04T21:27:51","date_gmt":"2024-10-04T21:27:51","guid":{"rendered":"https:\/\/www.thinkadvisor.com\/2024\/10\/04\/el-erian-warns-fed-after-jobs-data-inflation-is-not-dead\/"},"modified":"2024-10-04T21:27:51","modified_gmt":"2024-10-04T21:27:51","slug":"el-erian-warns-fed-after-jobs-data-inflation-is-not-dead","status":"publish","type":"post","link":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/2024\/10\/04\/el-erian-warns-fed-after-jobs-data-inflation-is-not-dead\/","title":{"rendered":"El-Erian Warns Fed After Jobs Data: &#8216;Inflation Is Not Dead&#8217;"},"content":{"rendered":"<div class=\"media_block\"><a href=\"https:\/\/feeds.feedblitz.com\/-\/905680715\/0\/thinkadvisor.jpg\"><img decoding=\"async\" src=\"https:\/\/feeds.feedblitz.com\/-\/905680715\/0\/thinkadvisor.jpg\" class=\"media_thumbnail\"><\/a><\/div>\n<div><img decoding=\"async\" src=\"https:\/\/images.thinkadvisor.com\/contrib\/content\/uploads\/sites\/415\/2023\/10\/Mohamed_El-Erian_2023_BB_640x640.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<p>Yields on the policy-sensitive two-year Treasury surged after the release, trading more than 18 basis points higher at 3.89%.<\/p>\n<p>\u201cFor markets, this is pushing back on overly aggressive expectations of rate cuts by the Fed,\u201d said El-Erian, who\u2019s also a Bloomberg Opinion columnist. \u201cThis will get the market closer to what\u2019s likely.\u201d<\/p>\n<p>Fed official Austan Goolsbee had a different take after the data. He said the jobs readout supported a case for lower rates in the months ahead while acknowledging that the central bank\u2019s focus should remain on longer-term trends in inflation and the labor market.<\/p>\n<p>\u201cThat we got a superb number, I\u2019m extremely happy with, but let\u2019s not lose sight of what\u2019s the longer thread,\u201d Goolsbee, president of the Federal Reserve Bank of Chicago,&nbsp;told&nbsp;Bloomberg Television.<\/p>\n<p>\u201cA large majority of the committee feels that conditions are going to improve on inflation, that we\u2019re going to keep getting closer to the 2% target, that the unemployment rate is going to stabilize at full employment, and that rates are going to come down a lot over the next year, 12 to 18 months,\u201d Goolsbee said.<\/p>\n<p><em>(Credit: Bloomberg)<\/em><\/p>\n<p class=\"disclaimer_message\">Copyright 2024 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Yields on the policy-sensitive two-year Treasury surged after the release, trading more than 18 basis points higher at 3.89%. \u201cFor markets, this is pushing back on overly aggressive expectations of rate cuts by the&#46;&#46;&#46;<\/p>\n","protected":false},"author":1,"featured_media":22577,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[],"tags":[1],"jetpack_featured_media_url":"https:\/\/blog.lifeinsurance-orleans.ca\/wp-content\/uploads\/2024\/10\/el-erian-warns-fed-after-jobs-data-inflation-is-not-dead.jpg","_links":{"self":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/22576"}],"collection":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/comments?post=22576"}],"version-history":[{"count":0,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/posts\/22576\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media\/22577"}],"wp:attachment":[{"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/media?parent=22576"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/categories?post=22576"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.lifeinsurance-orleans.ca\/index.php\/wp-json\/wp\/v2\/tags?post=22576"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}