El-Erian: This week's Fed meeting is a test over 'inflation as transitory' narrative

Investors will be paying extra close attention to this week's Federal Reserve meeting. In a new op-ed, Mohamed El-Erian, economic advisor at Allianz and Gramercy and president at Queens College, Cambridge, says the event has turned from a "snooze-fest" into a test of the Fed's control over the narrative that the current bout of inflation is only transitory.