El-Erian Sees 'Sticky' Inflation Ahead

The transcript discusses a quote received over the Bloomberg Terminal, marking a significant shift in economic regimes. It highlights the end of the 'free money trade' and the transition from low interest rates and infinite QE to a new regime with more appropriate money pricing. The speaker emphasizes that we are not returning to pre-pandemic conditions due to the unintended consequences of past economic policies. The discussion also touches on the challenges of sticky inflation and the societal decisions required when inflation reaches 4%.

What major decision does the speaker anticipate society will face when inflation reaches 4%?

In what way does the speaker suggest money will be priced in the new regime?