Friday 03 February 2023
I wrote – Shaima Hefzy:
The economist, Mohamed El-Erian, expected the US Federal Reserve to raise interest rates one or two more times, before returning to cut interest rates by the middle of the year.
The US Federal Reserve raised the interest rate by 0.25%, an expected decision that was absorbed in the markets, and was followed by several Gulf banks, while the Central Bank of Qatar and the Central Bank of Egypt violated the trend to keep interest rates unchanged.
El-Erian, chief economic advisor at Allianz International, said in a podcast via Twitter, organized by Pensions & Investments, that he does not believe that the US economy is currently in a recession due to movements in the US labor market, although there is a possibility of a recession.
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