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UPDATE
4 hours ago — Allianz chief economic adviser Mohamed El-Erian tells "Face the Nation with Margaret Brennan" that many economists think Powell should cut rates earlier as well, saying that he believes that Powell "hasn't looked forward enough" on interest rates and that the Fed chair has "been very data dependent. And ...
I think he's pointed us to a rate cut in September with just a few caveats relative to the data and inflation expectations.
Economist Mohamed El-Erian says Jerome Powell "hasn't looked forward enough" on interest rates.

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