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Fed has backed itself into a corner on inflation: Allianz's El-Erian

"The Fed is pinning itself in a corner by insisting that this is transitory," Mohamed El-Erian, economic advisor at Allianz and Gramercy and president at Queens College, Cambridge, told CNBC's "Squawk Box" Monday regarding inflation pressures. "All the evidence suggests that you should have an open mind."
03:54
Mon, May 3 20219:04 AM EDT