While the Federal Reserve officially halted its asset-purchasing program known as quantitative easing, the QE trade isn't quite over, Allianz Chief Economic Advisor Mohamed El-Erian said Thursday.
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"Fact No. 1 is yes, QE is over in the U.S., but easy policy is not," he said. "Fact No. 2, QE may be over in the U.S., but there's going to be more QE in Europe and Japan. So, I don't think the QE trade is over. I think the QE trade is evolving."
On Wednesday, the U.S. central bank announced that it would end its $15 billion-per-month of bond buying.