Trouble with the Fed two decades in the making

In late July the Federal Reserve decided against lowering interest rates despite signals that the economy was cooling.

Their inaction heightened concerns Mohamed El-Erian, an economist and an investor, has had about the Fed and central bankers for nearly two decades.

In this show, El-Erian highlights the problems he recognised in the financial system back in 2007 and why they're still haunting decision making now.

El-Erian is the award-winning author of When Markets Collide. It won the FT Business Book of the Year in 2008. Go to ft.com/bookaward to find out all the latest news, including the 2024 longlist.

RUNNING ORDER:

01:31 - Part 1: When markets collide.

05:26 - Part 2: The shock. The mistake. The fallout.

08:41 - Part 3: the trouble with the fed.

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