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Mohamed El-Erian

Mohamed El-Erian Books

Economic Consultant

Mohamed El-Erian is a renowned economist and investment expert. Born on August 19, 1958, he has extensive experience in economic consulting. El-Erian has held senior positions in several international financial institutions and has a significant influence in global financial markets.

The Only Game in Town: Central Banks, I...

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“Having been forced into being the only game in town, they (Central banks) now find that their destiny is no longer entirely or even mostly theirs to control. The legacy of their exceptional period of hyper policy experimentation is now in the hands of governments and their political bosses (p. 265).”

Central Banks Financial Markets World Economy

Book:The Only Game in Town: Central Banks, Instability, and Avoiding the Next Collapse

Source: The Only Game in Town: Central Banks, Instability, and Avoiding the Next Collapse

“Today's reports confirm that, unfortunately, post-crisis America is still not back to its good economic self.”

Stills Self Today America Economic Crisis Posts Reports

Author:Mohamed El-Erian

“[When] the market is trying to get to terms with, first, lower global growth, particularly out of emerging markets and China. And, second, the market is worried the central banks have run out of ammunition. So put these two things together, and then investors are repricing the market lower.”

Trying Firsts Two Running Together Growth Term China Worried Two Things Investors Emerging Central Banks Ammunition Emerging Markets

Author:Mohamed El-Erian

“Once you start moving [market] lower, then you trigger of all sorts of things. You trigger people who have to sell because they're over-levered. So they sell their winners and their losers. They're just trying to raise cash. So, what you then get is spreading malaise throughout the global markets.”

People Trying Moving Raises Sells Winner Loser Cash Triggers Malaise

Author:Mohamed El-Erian

“How long can interest rates stay negative? Think about this. Not only are you lending your money to governments, but you're paying them interest for the privilege of doing so.”

Thinking Long Government Interest Negative Rate Privilege Lending Interest Rate

Author:Mohamed El-Erian

“We normally think if you're going to lend someone money, you should get some reward for doing this. In Europe, it's a tax!”

Ifs Thinking Should Taxes Europe Rewards

Author:Mohamed El-Erian

“I remember when I was growing up, you would go to a bank to open a deposit, and they'd give you a toaster. A free toaster. These days, if you're a company, and you go to a bank, they could easily turn you away! They don't want your deposits anymore.”

Ifs Want Giving Remember Turns Company Growing Up Growing These Days Remember When Deposits Toasters

Author:Mohamed El-Erian

“The one instrument that has relative political autonomy is monetary policy. Central banks do not need to go to Congress to get approval for an interest rate hike.”

Needs Political Interest Policy Instruments Rate Congress Relative Approval Autonomy Monetary Interest Rate Central Banks Monetary Policy

Author:Mohamed El-Erian

“The world changes! So we're in a situation today where the only policymakers that have flexibility are central banks. But they don't have the instruments! So they've had to experiment, and the more you experiment, the more uncertainty and the higher the risk of collateral damage.”

World Today Situation Risk Higher Instruments Experiments Uncertainty Damage Flexibility Central Banks Collateral Collateral Damage

Author:Mohamed El-Erian

“The theory is that if you take interest rates negative, people are going to say, "That's a silly game! I'm not going to lend my money to governments who want me to pay them. I am going to go into the stock market where I can get positive returns!"”

People Ifs Want I Can Government Games Interest Pay Theory Return Negative Rate Silly Want Me Negative People Interest Rate

Author:Mohamed El-Erian

“As we spend more, and as companies are pushed to invest, they say, "Hey wait a minute! There's more demand in the system. Let's invest more."”

Waiting Company Minutes Demand Hey

Author:Mohamed El-Erian

“If you happen to be the only one with negative interest rates, you also weaken your currency, which means you make your exports more competitive.”

Ifs Mean Happens Interest Negative Rate Currency Interest Rate

Author:Mohamed El-Erian

“As a whole, investors should welcome attempts to safeguard the integrity of markets. You need very clear rules applied to markets.”

Needs Should Whole Clear Integrity Welcome Investors

Author:Mohamed El-Erian

“America's downgrade may serve as a wakeup call for its policymakers. It is an unambiguous and loud signal of the country's eroding economic strength and global standing. It renders urgent the need to regain the initiative through better economic policymaking and more coherent governance.”

Needs May Country America Economic Standing Loud Initiative Signals Governance Urgent

Author:Mohamed El-Erian

“Investors have to ask themselves two questions. How much can we grow our investments? And, can we afford our mistakes?”

Two Asks Grows Mistake Investment Investors

Author:Mohamed El-Erian

“Investors should be cautiously positioned as the global economy and markets face major uncertainties. The downgrade will be a further headwind to growth and job creation in the U.S.”

Should Jobs Faces Growth Economy Creation Majors Uncertainty Investors Global Economy Job Creation

Author:Mohamed El-Erian

“Investors should invest on what they know. The biggest mistake is to invest on what they don't know.”

Knows Should Mistake Investors Biggest Mistake

Author:Mohamed El-Erian

“It is hard to imagine that, having downgraded the US, S & P will not follow suit on at least one of the other members of the dwindling club of sovereign AAAs. If this were to materialise and involve a country like France, for example, it could complicate the already fragile efforts by Europe to rescue countries in its periphery.”

Ifs Country Hard Effort Imagine Example Members Europe Clubs Suits France Fragile Imagine That Rescue Sovereign Periphery

Author:Mohamed El-Erian

“Most people are under exposed to global assets, including foreign stocks, bonds and currencies.”

People Including Assets Exposed Currency

Author:Mohamed El-Erian

“The once-unthinkable loss of the AAA rating will constitute a further hit to already fragile business and consumer confidence.”

Loss Consumers Fragile Rating Unthinkable Consumer Confidence

Author:Mohamed El-Erian

“The world is on a bumpy journey to a new destination and the New Normal.”

World Journey Normal Destination New Normal

Author:Mohamed El-Erian

About the Author

Born: August 19, 1958
Known for: Economic Consultant
Quotes: 21

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