Mohamed El-Erian, principal economic consultant at Allianz and writer for Bloomberg Opinion, conveys his sense of being “less hopeful” concerning the trajectory of inflation as a result of the escalation in services expenses highlighted in the January employment data. Speaking on “Blomberg The Open,” he remarks, “The services sector is experiencing rapid growth—this observation leads me to feel a sense of apprehension that we might be overly hopeful about the future trend of inflation.”
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