The Federal Reserve won’t raise interest rates in 2019 and will probably cut them in 2020 ― after raising them a stunning four times in 2018. That what Mohamed El-Erian, the chief economic adviser at German mega-bank Allianz, predicts. “I suspect they will do nothing this year, and next year will likely loosen,” El-Erian told CNBC on February 5. Jerome Powell Projected Two Rate Hikes In 2019 This contradicts the projection of Federal Reserve chairman Jerome Powell, who indicated in December 2018 that the US central bank would increase interest rates twice this year. However, Powell vowed to be careful about making sure The post Bold Call: Mohamed El-Erian Predicts Federal Reserve Will Reverse Course, Cut Interest Rates in 2020 appeared first on CCN
