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Mohamed A. El-Erian, president at Queens' College, University of Cambridge, draws attention to a significant day for U.S. economic data releases.
He highlights the upcoming PCE inflation figures, regarded as the Federal Reserve's preferred measure, with consensus pointing to an annual headline rate of 3.8% and core inflation expected to remain stable at 3.3%. Jobless claims are also anticipated to hold steady.
El-Erian has previously cautioned that the economic fallout from the war could lead to widespread demand destruction, moving beyond initial energy and price shocks, as noted here. He also recently explained how a decline in WTI oil prices below $90 supported record gains in equities. These observations come as markets await the latest U.S. inflation and labor data.