As Wholesale Inflation Cools In August, El-Erian Says The Question To Fed Should Be ‘Why Not 50?’: Report

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In an interview with CNBC, El-Erian was reacting to the August PPI report, which showed wholesale inflation declined by 0.1%.

Mohamed El-Erian, Chief Economic Advisor at Allianz, reportedly said on Wednesday that the question to be asked of the Federal Reserve is, why should it not cut interest rates by 50 basis points in September, given that wholesale inflation in August came in cooler than expected.

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In an interview with CNBC, El-Erian was reacting to the PPI report for August that showed wholesale inflation declined by 0.1%, while a Dow Jones estimate pointed to an increase of 0.3%, according to MarketWatch.

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