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Inflation ‘Way Beyond’ Transitory Becoming Growing Issue for Markets, Economist Says

Inflation that is now “way beyond” what the transitory camp believes is fast becoming a growing challenge for investors as they navigate the turbulent waters of sharp wage gains, a tightening labor market, and persistent price pressures, according to Queen’s College President and economist Mohamed El-Erian. In an Oct. 11 interview on CNBC’s “Squawk Box,” El-Erian said it has become clear that inflation is going to become “more and more of an issue for markets” and that it will “separate winners and losers in a significant way.” Consumer price inflation is running at around a 30-year high and well beyond the Fed’s 2 percent target, to the consternation of central bank policymakers who face increasing pressure to roll back stimulus even as they fret that the labor market hasn’t fully rebounded from pandemic lows. And while the CCP (Chinese Communist Party) virus pandemic generated considerable noise in U.S. wage data, …

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