(Kitco News) – The Trump administration’s incoherent messaging on tariffs is exacerbating the market turmoil they’ve caused, and the Federal Reserve will not come to the market’s rescue, according to Mohamed El-Erian, Former CEO of PIMCO and current president of Queens’ College, Cambridge.
On Sunday, El-Erian was asked whether he believes Trump’s massive trade tariffs are designed to force negotiations with tariffed nations, or whether they represent the long-term new paradigm for trade with the United States.
“We don’t know,” he answered, “because as much as there was uniformity when it came to statements on where we are going to end up, which is this notion of golden age in which tariffs play a critical role in getting us there, we’ve heard at least three different messages about the short term.”
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