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- More hot inflation data is putting the Fed "behind yet again," according to economist Mohamed El-Erian.
- He told Bloomberg TV on Friday that the latest reading is "bad news across the board."
- He added that the central bank could move to a 50-basis-point rate hike at the next FOMC meeting.
Another hot inflation report is placing the Federal Reserve "behind yet again," according to top economist Mohamed El-Erian.
That came after the personal consumption expenditures report, the central bank's preferred measure of inflation, showed prices increased 0.6% in January from the prior month, topping expectations and further elevating concerns that the Fed must remain hawkish for longer.