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El-Erian Warns Inflation Has Yet to Peak as Energy Prices Rise

“Be careful what you wish for. If you believe the labor market stays strong, wages remain buoyant and start catching up to inflation, then it’s hard to see inflation coming down,” he said. “But if you think we’re going to have a recession, sure, inflation is going to come down, but that’s not the sort of transitory inflation that anybody wants.”

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