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Mohamed A. El-Erian, president at Queens' College, University of Cambridge, highlights the significance of today’s U.S. Consumer Price Index (CPI) release.
He observes that consensus forecasts anticipate a further increase in annual headline inflation, while core inflation is expected to remain relatively subdued. El-Erian points out the elevated importance of this data as analysts evaluate the possibility of future inflation not tied to energy prices.
El-Erian has previously addressed market shifts in official reserves, noting that gold's share of global official reserves climbed to 27% by the end of 2025, surpassing both the euro and U.S. Treasuries. He has also relayed warnings about rising rollover risk as U.S. public debt approaches record highs and Treasury funding pressures increase. These past comments frame his current focus on inflation data and potential policy implications.