Allianz's El-Erian on what the Fed should do to deal with inflation

"What worries me is the inflation side," Mohamed El-Erian, economic advisor at Allianz and Gramercy and president at Queens College, Cambridge, told CNBC's "Squawk Box" Tuesday. "What I'm seeing suggests it's not simply transitory and the last thing we need is the Fed to slam on the breaks further down the road."