- Nonfarm payrolls data for September handily beat forecasts
- It’s good news for economy, bad news for markets, Fed, he says
“Something is likely to break” as Friday’s US jobs report pushes the Federal Reserve to hold interest rates higher for longer, said Mohamed El-Erian, the chief economic adviser at Allianz SE and a Bloomberg Opinion columnist.
The data is “good news for the economy right now,” El-Erian said on Bloomberg Television, but it’s “bad news for the markets and for the Fed. The Fed is not going to welcome this report. Over the long term this may end up being bad news for the economy as well.”
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