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El-Erian: Markets front-run Fed in tightening financial conditions

February 4, 2016 by · Leave a Comment 

By Jennifer Ablan NEW YORK (Reuters) – Mohamed El-Erian, the chief economic adviser at Allianz SE , said on Thursday that with volatility rising, the markets effectively have served as front-runners to the Federal Reserve in tightening global financial conditions. “I doubt we will see the four rate hikes signaled a few weeks ago by Fed officials,” El-Erian said. “Two hikes are likely, if not less.” William Dudley, president of the Federal Reserve Bank of New York, said on Wednesday that financial conditions have tightened considerably…

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El-Erian: Markets front-run Fed in tightening financial conditions