3 reasons the US economy's strength right now is a head-fake, according to Mohamed El-Erian

• The narrative that the US economy could achieve a soft landing still faces challenges, Mohamed El-Erian told Bloomberg TV.
• Rising inflation and geopolitical turmoil could dampen US growth and pressure a recession.
• Last year's rapid growth is unlikely as consumer savings are depleted, he said.

Market confidence in a US soft landing ignores three vulnerabilities that still pose a recessionary threat, economist Mohamed El-Erian told Bloomberg TV.