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The Fed's next rate move is more likely a cut than a hike: Economist Mohamed El-Erian
video The Federal Reserve is likely to hold interest rates steady for the entire year after hiking four times in 2018, predicted economist Mohamed El-Erian. The chief economic advisor at Allianz and former Pimco chief told CNBC on Tuesday that he sees a 50 to 55 percent chance of the next Fed move being a cut that would happen sometime in 2020. In December, the Fed projected two rate increases this year. But few in the market still expect that path. And another tool to tighten-up monetary policy, the unwinding of the Fed's balance sheet, or portfolio of assets, "certainly will go off autopilot" in 2019, El-Erian ... (full story)
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