Newsmax Finance Insider and Allianz Chief Economic Adviser Mohamed
El-Erian said Tuesday the world economy is nearing a crucial fork in its
financial road.
He said the global economy is at the end of the era of borrowing growth and profits from the future in the form of easy monetary policies.
"Either we validate the financial asset prices and growth faster, or alternatively we will slip into a global recession with financial disorder," he told CNBC, saying we’ll know the answers within the next three years.
"The path we're on right now — and that we've been on for a while— is ending," he said.
“El-Erian said the Federal Reserve waited too long to begin exiting from emergency polices designed to boost the economy after the 2008 financial crisis,” CNBC explained.
"They were waiting, waiting, and waiting, and irony is that the economy has healed, but it is not unleashed," he said.
He said the global economy is at the end of the era of borrowing growth and profits from the future in the form of easy monetary policies.
"Either we validate the financial asset prices and growth faster, or alternatively we will slip into a global recession with financial disorder," he told CNBC, saying we’ll know the answers within the next three years.
“El-Erian said the Federal Reserve waited too long to begin exiting from emergency polices designed to boost the economy after the 2008 financial crisis,” CNBC explained.
"They were waiting, waiting, and waiting, and irony is that the economy has healed, but it is not unleashed," he said.
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