El-Erian Says Fed Will Play ‘Catch Up’ on QE Reduction

Jul.23 — Gramercy Funds Chairman Mohamed El-Erian, a Bloomberg Opinion columnist, says the Federal Reserve will “condition the market to a very gradual” reduction in quantitative easing. “I think the market will accept that to begin with. And then reality is going to sink in that they should go faster,” El-Erian says on “Bloomberg The Open.” El-Erian’s opinions are his own.