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El-Erian Says Data Shows US Recession Can Still Be Averted

Mohamed El-Erian, chief economic adviser at Allianz and Bloomberg Opinion columnist, says a US economic downturn is a “possibility, but not a 100% probability” despite the Federal Reserve’s efforts to meet its “arbitrary” 2% inflation target. “We can avert a recession. And the last few weeks of data suggest that we can still avert a recession,” he says on “Blomberg The Open.”

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