From his start with the International Monetary Fund to his current roles as president of Queens College, chair of Gramercy Funds, and chief economic advisor to Allianz, Mohamed El-Erian has a host of experience dealing with global macro issues and assisting policymakers across the globe with difficult economic situations.
On this episode of the FEG Insight Bridge, Mohamed talks about his deep respect for central banks (and his disappointment with the Fed), and the intricacies of policymaking, which must account for political, social, and economic issues. He also discusses the seemingly conflicting signals from the stock and fixed income markets and how institutional investors should be repositioning their portfolios in response to market volatility. This is one episode you do not want to miss!
Chapters
00:00:00 Intro
00:00:30 Episode overview
00:01:31 How Mohamed’s international background informs his investment perspective
00:04:00 On being a die-hard Jets and Mets fan
00:05:40 Discussing Mohamed’s book The Only Game in Town: Central Banks, Instability and Avoiding the Next Market Collapse
00:09:19 The Fed’s (lack of) credibility
00:14:42 Managing volatility as an investor
00:19:31 Comparing the signals of the stock market and the fixed income market
00:23:31 What institutions should be looking to change in their investment portfolios right now
00:25:20 Are emerging and frontier markets currently investable?
00:33:18 Currency volatility in international developed markets
00:36:31 Mohamed’s advice for the Biden administration
00:38:38 Reading recommendations