FOLLOW US

  • facebook
  • twitter
Tue

March 10, 2026

And More October 9, 2022

Recession is “Totally Avoidable” but the Fed Made Two Big Mistakes, Says Top Economist

And More ı By Rochdi Rais

61 0 Comments

Mohamed El-Erian
Top economist Mohamed El-Erian said the Fed "made two big mistakes that I think are going to go down in the history books" and spur a "damaging" recession.  Speaking on CBS' "Face the Nation" on Sunday, El-Erian told host, Major Garrett, "I fear that we risk a very high probability of a damaging recession that was totally avoidable." The chief economic adviser at Allianz cited two errors made by the Federal Reserve. He said the Fed's first mistake was mischaracterizing inflation as transitory. "By that, they meant it is temporary, it's reversible, don't worry about it," he said. The second mistake was when the Fed finally recognized inflation was persistent and high, yet "didn't act in a meaningful way," he added. El-Erian said the Fed not easing their foot off the accelerator last year means they've had to slam the breaks too hard this year, "which would tip us into recession." "So yes, unfortunately, this will go down in a big policy error by the Federal Reserve," he said. "Even [Federal Reserve] Chair Powell has gone from looking for a soft landing to soft-ish landing to now talking about pain. And that is the problem. That is the cost of a Federal Reserve being late. Not only does it have to overcome inflation, but it has to restore its credibility," he said. The Fed has been aggressively hiking interest rates in an attempt to tame 40-year-high inflation in the US economy.  The September inflation report is set to be released on Thursday. The Fed is expected to further hike rates for the sixth time at its November 1-2 meeting to push the federal funds rate from the current range of 3% to 3.25%. At its past three meetings, the Fed has kicked up the benchmark rate by 75 basis points.     

Previous Article

Employees at Meta are Calling the Firm’s Projects “Make Mark Happy”, The NY Times Reported

Read More
Rochdi Rais
2742 Posts

Rochdi Rais

Rochdi Rais is the chief content officer and financial and legal writer at USA Herald. He has been writing about finance, law, cryptocurrency and U.S. politics for years with over +4000 articles published during his career.

Don’t Miss It
Arizona December 12, 2024
Arizona Bar Opens Investigation on Attorney Aaron Kelly
By – Paul O'Neal
America March 10, 2026
Alabama Man Fatal Shooting Death Sentence Commuted by Governor
By – Rachel Moore
America March 10, 2026
Winklevoss Twins’ Bitcoin Transfer Sparks Market Speculation
By – Rachel Moore
America March 10, 2026
Google and Tesla Power Grid Initiative Targets Lower Energy Costs
By – Rihem Akkouche
America March 10, 2026
Jupiter’s Shift Direction Lights Up the Night Sky Again
By – Rihem Akkouche
International March 09, 2026
Paramount President PR $150M Lawsuit Sparks Explosive Allegations
By – Rachel Moore
Arizona January 11, 2025
Kelly Warner Law Firm Blames USA Herald for Arizona Bar Investigation

In what appears as a desperate attempt to defend multiple allegations of fraud on the courts, the Kelly Warner Law…

By – USA Herald
Arizona January 4, 2025
Aaron Kelly Law Firm Resorts To Attacking Former Client Again On KellyWarnerLaw.com – Pattern Recognized

Attorney Aaron Kelly and his law partner Daniel Warner are currently under investigation by the Arizona Bar for legal misconduct.…

By – Jeff Watterson
Arizona December 12, 2024
Arizona Bar Opens Investigation on Attorney Aaron Kelly

USA Herald recently reported on a developing story involving Attorneys Daniel Warner and Aaron Kelly. Both Warner and Kelly have…

By – Paul O'Neal
America March 10, 2026
Alabama Man Fatal Shooting Death Sentence Commuted by Governor

In a rare act of clemency that halted an imminent execution, the Alabama man fatal shooting death sentence tied to…

By – Rachel Moore
America March 10, 2026
Winklevoss Twins’ Bitcoin Transfer Sparks Market Speculation

A wave of cryptocurrency movement tied to the founders of the Gemini exchange is drawing fresh attention across the digital…

By – Rachel Moore
America March 10, 2026
Medtronic to Buy Scientia Vascular in $550 Million Neurovascular Deal

In a move poised to reshape the future of stroke treatment technology, Medtronic to buy Scientia Vascular marks a major…

By – Rihem Akkouche
America March 10, 2026
Google and Tesla Power Grid Initiative Targets Lower Energy Costs

Two of the world’s most influential technology companies are stepping into the energy policy arena, launching a campaign they say…

By – Rihem Akkouche
America March 10, 2026
Jupiter’s Shift Direction Lights Up the Night Sky Again

Skywatchers may notice something unusual unfolding overhead this week as Jupiter’s shift direction brings an end to months of celestial…

By – Rihem Akkouche
America March 10, 2026
Lux Aeterna $10M Seed Funding Fuels Ambitious Reusable Satellite Vision

A Colorado startup aiming to change how satellites operate — and survive — in space has secured fresh investment to…

By – Rihem Akkouche
America March 10, 2026
Alabama Man Fatal Shooting Death Sentence Commuted by Governor

In a rare act of clemency that halted an imminent execution, the Alabama man fatal shooting death sentence tied to…

By – Rachel Moore
America March 10, 2026
Winklevoss Twins’ Bitcoin Transfer Sparks Market Speculation

A wave of cryptocurrency movement tied to the founders of the Gemini exchange is drawing fresh attention across the digital…

By – Rachel Moore
America March 10, 2026
Medtronic to Buy Scientia Vascular in $550 Million Neurovascular Deal

In a move poised to reshape the future of stroke treatment technology, Medtronic to buy Scientia Vascular marks a major…

By – Rihem Akkouche
America March 10, 2026
Google and Tesla Power Grid Initiative Targets Lower Energy Costs

Two of the world’s most influential technology companies are stepping into the energy policy arena, launching a campaign they say…

By – Rihem Akkouche
America March 10, 2026
Jupiter’s Shift Direction Lights Up the Night Sky Again

Skywatchers may notice something unusual unfolding overhead this week as Jupiter’s shift direction brings an end to months of celestial…

By – Rihem Akkouche
America March 10, 2026
Lux Aeterna $10M Seed Funding Fuels Ambitious Reusable Satellite Vision

A Colorado startup aiming to change how satellites operate — and survive — in space has secured fresh investment to…

By – Rihem Akkouche
America March 10, 2026
Alabama Man Fatal Shooting Death Sentence Commuted by Governor

In a rare act of clemency that halted an imminent execution, the Alabama man fatal shooting death sentence tied to…

By – Rachel Moore
America March 10, 2026
Winklevoss Twins’ Bitcoin Transfer Sparks Market Speculation

A wave of cryptocurrency movement tied to the founders of the Gemini exchange is drawing fresh attention across the digital…

By – Rachel Moore
America March 10, 2026
Medtronic to Buy Scientia Vascular in $550 Million Neurovascular Deal

In a move poised to reshape the future of stroke treatment technology, Medtronic to buy Scientia Vascular marks a major…

By – Rihem Akkouche
America March 10, 2026
Google and Tesla Power Grid Initiative Targets Lower Energy Costs

Two of the world’s most influential technology companies are stepping into the energy policy arena, launching a campaign they say…

By – Rihem Akkouche
America March 10, 2026
Jupiter’s Shift Direction Lights Up the Night Sky Again

Skywatchers may notice something unusual unfolding overhead this week as Jupiter’s shift direction brings an end to months of celestial…

By – Rihem Akkouche
America March 10, 2026
Lux Aeterna $10M Seed Funding Fuels Ambitious Reusable Satellite Vision

A Colorado startup aiming to change how satellites operate — and survive — in space has secured fresh investment to…

By – Rihem Akkouche
America March 8, 2026
The Northern Lights Return

The Northern Lights have a chance to be visible from several northern U.S. states on Tuesday night, forecasters at the…

By – Jackie Allen
America March 8, 2026
February Unemployment Up as Job Losses Surprise Economists

February Unemployment Up as the latest labor market data revealed weaker-than-expected job growth and a slight increase in the national…

By – Jackie Allen
America March 8, 2026
Late-Night Attack by Venezuelan National at Florida Beach

A Late-night attack by a Venezuelan National has left a Florida community shaken after authorities say a 26-year-old man ambushed…

By – Jackie Allen
America March 8, 2026
Trump’s War in Iran: Congress Confronts Escalation After U.S. Strikes

Trump’s War in Iran  was triggered open conflict, casualties, and renewed constitutional debate in Washington. The crisis intensified following reports…

By – Jackie Allen
America February 28, 2026
U.S. And Israel Launch Major Strikes On Iran — What It Means For America

TEHRAN, Iran – In a dramatic escalation of global tensions, the United States and Israel launched coordinated military strikes against Iran…

By – Samuel Lopez
America February 26, 2026
U.S. Court of Appeals for the Ninth Circuit Overturns $8M Asbestos Verdict Against BNSF Railway Co.

The U.S. Court of Appeals for the Ninth Circuit has thrown out an $8 million jury verdict against BNSF Railway…

By – Tyler Brooks
America March 10, 2026
Alabama Man Fatal Shooting Death Sentence Commuted by Governor

In a rare act of clemency that halted an imminent execution, the Alabama man fatal shooting death sentence tied to…

By – Rachel Moore
America March 10, 2026
Winklevoss Twins’ Bitcoin Transfer Sparks Market Speculation

A wave of cryptocurrency movement tied to the founders of the Gemini exchange is drawing fresh attention across the digital…

By – Rachel Moore
America March 10, 2026
Medtronic to Buy Scientia Vascular in $550 Million Neurovascular Deal

In a move poised to reshape the future of stroke treatment technology, Medtronic to buy Scientia Vascular marks a major…

By – Rihem Akkouche
America March 10, 2026
Google and Tesla Power Grid Initiative Targets Lower Energy Costs

Two of the world’s most influential technology companies are stepping into the energy policy arena, launching a campaign they say…

By – Rihem Akkouche
America March 10, 2026
Jupiter’s Shift Direction Lights Up the Night Sky Again

Skywatchers may notice something unusual unfolding overhead this week as Jupiter’s shift direction brings an end to months of celestial…

By – Rihem Akkouche
America March 10, 2026
Lux Aeterna $10M Seed Funding Fuels Ambitious Reusable Satellite Vision

A Colorado startup aiming to change how satellites operate — and survive — in space has secured fresh investment to…

By – Rihem Akkouche
America February 21, 2026
When The Files Are Finally Unsealed The Most Mind-Bending Truth May Not Be What We Expect

[USA HERALD] – There is a widespread assumption that if governments release their most highly classified files related to unidentified…

By – Samuel Lopez
America February 17, 2026
Civil Rights Icon Rev. Jesse Jackson Dies at 84 As President Trump Issues Personal Tribute

[USA HERALD] — The Rev. Jesse Jackson, a towering figure of the American civil rights movement whose career spanned more than…

By – Samuel Lopez
America February 13, 2026
Clues to Savannah Guthrie Missing Mom’s Disappearance Found on Security System

The disappearance of the mother of Savannah Guthrie has taken a dramatic turn as investigators focus on digital clues tied…

By – Jackie Allen
America February 8, 2026
Mike Tyson Urges Americans to ‘Eat Real Food’ in Emotional Super Bowl Ad Highlighting Health Risks

Boxing legend Mike Tyson is using his platform ahead of Super Bowl 60 to address a personal and national health…

By – Tyler Brooks
America February 7, 2026
Deadly “Death Cap” Mushrooms in California Cause Multiple Deaths and Liver Transplants Amid Rare Super Bloom

California health officials are warning the public after four deaths and three liver transplants linked to the highly toxic death…

By – Ahmed Boughalleb
America February 7, 2026
From Migraines to Miracles: How Becca Valle Survived a Glioblastoma Diagnosis Against the Odds

Becca Valle, 41, thought her headaches were just migraines—until a sudden, unbearable pain revealed something far more serious. In September…

By – Tyler Brooks
America March 8, 2026
February Unemployment Up as Job Losses Surprise Economists

February Unemployment Up as the latest labor market data revealed weaker-than-expected job growth and a slight increase in the national…

By – Jackie Allen
America March 8, 2026
Late-Night Attack by Venezuelan National at Florida Beach

A Late-night attack by a Venezuelan National has left a Florida community shaken after authorities say a 26-year-old man ambushed…

By – Jackie Allen
America March 8, 2026
Trump’s War in Iran: Congress Confronts Escalation After U.S. Strikes

Trump’s War in Iran  was triggered open conflict, casualties, and renewed constitutional debate in Washington. The crisis intensified following reports…

By – Jackie Allen
America March 1, 2026
Cadillac Names Inaugural Formula 1 Car MAC-26 in Tribute to Mario Andretti Ahead of 2026 Australian Grand Prix Debut

Cadillac has officially revealed the name of its first Formula 1 challenger, confirming that its 2026 car will be called…

By – Ahmed Boughalleb
America February 20, 2026
Norway Tops Medal Table After Day 13 at 2026 Winter Olympics as Team USA Surges Into Second Place

With 13 days complete at the 2026 Milan Cortina Winter Olympics, Norway sits atop the overall medal standings, collecting 34…

By – Ahmed Boughalleb
America February 18, 2026
Olympic Science Explained: How Figure Skaters Spin at Blinding Speeds Without Getting Dizzy

When Amber Glenn finishes her routine, the arena usually rises with her. The music builds, her blades carve a tight…

By – Tyler Brooks

No posts found.

No posts found.

No comments No comments yet. Be the first to comment!

Signup for the USA Herald
exclusive Newsletter