El-Erian Says Fed Contributing to 'Undue' Market Volatility

The transcript discusses the Federal Reserve's actions and their impact on market volatility. It highlights Chairman Powell's communication and the market's response, particularly in the equity market. The discussion also covers the challenges the Fed faces in communicating its policies and projections, especially regarding interest rates and terminal rates. The need for careful communication to avoid undue market volatility is emphasized, along with the importance of letting interest rates stabilize before making further adjustments.

What were the main criticisms of Chairman Powell's actions on Wednesday?

How did the market react to the statements made by Chair Powell?

What does the speaker suggest about the Fed's understanding of market technicals and behaviors?

What are the implications of the projected terminal rates mentioned in the discussion?

In what ways does the speaker believe the Fed should approach interest rate adjustments?