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El-Erian Warns Fed After Jobs Data: ‘Inflation Is Not Dead’​

• US job growth in September topped all estimates, data showed
• Traders pull back on wagers on big Fed cuts to come this year

By Carter Johnson
October 4, 2024 at 9:46 PM GMT+8
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Mohamed El-Erian says the Federal Reserve needs to renew its focus on its fight against rising prices after September’s surprisingly hot jobs report served as a reminder that “inflation is not dead.”

His comments came after Friday’s numbers blew away estimates, triggering a jump in US stocks and bond yields. Nonfarm payrolls rose by 254,000 in September, the most in six months.

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