Mohd. el-ErianWas interviewed by Bloomberg this morning. (At least here in C.R.) Worth a look. Used to manage Harvard's endowment, went to PIMCO, now President of a College at Cambridge. Guy doesn't really need a job, but Cambridge is probably hoping to be remembered in his will.
As Putin keeps destroying Ukraine's economy and keeps hacking at his own, toe by toe, Mohd foresees a depression for both, recession for Europe and stagflation for US.
Where else would you put your money, rhetorically? Hell no! to cash and bonds.
Markets have lost faith in Powell's ability to predict or control inflation.
Meanwhile markets keep chugging along, at least for now.
Cheers.