Mohamed El-Erian, the Chief Economic Advisor at Allianz, criticized the Federal Reserve for not reducing interest rates in July, warning that the market’s anticipation of a 200 basis point cut in the next year is excessive. What Happened: El-Erian stated that the Fed should have cut rates in July and that the lack of clarity about the future rate cuts is causing market uncertainty. El-Erian voiced his concerns on CNBC’s Closing Bell on Tuesday. “But there’s also the question of the destination…They’ve been ambiguous about that. The market is expecting 200 basis points in the next 12+ months. T…
