Allianz's Mohamed El-Erian on the Fed's historic shift in monetary policy strategy

Fed Chairman Jerome Powell announced a major policy shift Thursday to “average inflation targeting." That means the central bank will be more inclined to allow inflation to run higher than the standard 2 percent target before hiking interest rates. Mohamed El-Erian, chief economic advisor at Allianz, joins "Squawk Box" to discuss.
05:38
Fri, Aug 28 20209:45 AM EDT