Here's what the Fed should say to curb market volatility amid bank tremors, sticky inflation, and higher rates, according to Mohamed El-Erian

• Mohamed El-Erian broke down in an op-ed how the Fed should talk about its economic outlook. 
• Markets are highly sensitive to policy statements from the US central bank right now.
• The Fed should address banking sector issues, high inflation, and stay open to further tightening.

The Federal Reserve is expected to deliver another interest rate hike on Wednesday, with chair Jerome Powell holding a press conference on the US central bank's policy decision right after. 

Often, the meeting and press conference from Powell are followed by large price swings in the market as investors try to digest what's next for the economy.