El Erian Believes Powell's Message To Markets Was 'Confused And Confusing' — Says Fed's 'Strategic Anchoring' Unclear
Portfolio Pulse from Bhavik Nair
Allianz chief economic adviser Mohamed El-Erian criticized Federal Reserve Chairman Jerome Powell's message to the market as 'confused and confusing.' El-Erian also stated that the Fed's inflation target is too low and should be higher. The iShares 1-3 Year Treasury Bond ETF (SHY) and Vanguard Short-Term Treasury Index Fund ETF (VGSH) experienced slight gains.
June 21, 2023 | 4:47 am
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Allianz's El-Erian criticized Fed Chairman Powell's message, while SHY experienced a 0.037% gain.
El-Erian's criticism of Powell's message may not have a direct impact on SHY's performance. However, the ETF experienced a 0.037% gain, which could be attributed to market reactions to the Fed's decisions.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
Allianz's El-Erian criticized Fed Chairman Powell's message, while VGSH experienced a 0.069% gain.
El-Erian's criticism of Powell's message may not have a direct impact on VGSH's performance. However, the ETF experienced a 0.069% gain, which could be attributed to market reactions to the Fed's decisions.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50