Powell's Fed may be remembered not for conquering inflation but for undermining its own credibility, Mohamed El-Erian says

• Mohamed El-Erian has slammed Powell's Fed again, saying it'll be remembered more for the bad than the good. 
• The central bank will likely be remembered more for damaging its own credibility than for taming inflation, he said. 
• El-Erian has been an ardent critic of the Fed in their approach toward tackling high US inflation. 

The Federal Reserve led by Jerome Powell will likely be remembered more for undermining its own credibility than for taming inflation, according to top economist Mohamed El-Erian.