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Economist: Biden’s supply chain crisis, inflation here continues

NEW YORK, NY - APRIL 29: Mohamed El-Erian, Chief Economic Adviser of Allianz appears on a segment of "Morning with Maria" with Maria Bartiromo on the FOX Business Network at FOX Studios on April 29, 2016 in New York City.  (Photo by Rob Kim / Getty Images)

NEW YORK, NY – APRIL 29: Allianz Chief Economic Adviser Mohamed El-Erian appears in a segment of “Morning with Maria” with Maria Bartiromo on the FOX Business Network at FOX Studios on April 29 2016 in New York City. (Photo by Rob Kim / Getty Images)

OAN . editorial office
UPDATE 11:32 AM PT – Sunday, November 28, 2021

A top economist has warned Joe Biden’s supply chain crisis will be a major concern for the US economy going forward.

In an interview Sunday, Allianz Financial Group economist Mohamed El-Erian said supply chain disruptions would “pollute” consumer demand in the US. .

Meanwhile, US inflation rose 6.2% last month, marking its highest level since 1990. Separately, El-Erian said inflation could eventually destroy consumer confidence in the economy. America.

“But if you look at what’s happening on the demand side, you have some questions. Demand is strong today, but will it increase dramatically in six months’ time? And there are really big questions, both about the destruction of demand, people buying less because of the higher prices, and about whether policy becomes relevant,” El-Erian said.

El-Erian also emphasized that the Federal Reserve must tackle inflation sooner rather than later, before it does more damage to consumer expectations.

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https://www.oann.com/economist-bidens-supply-chain-crisis-inflation-here-to-stay/?utm_source=rss&utm_medium=rss&utm_campaign=economist-bidens-supply-chain-crisis-inflation-here-to-stay Economist: Biden’s supply chain crisis, inflation here continues

DUSTIN JONES

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