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El-Erian Warns Oil at $90 Risks Inflation Fight
Economist Mohamed El-Erian warned that rising oil prices to around $90 a barrel could increase inflationary pressures on the global economy, especially with escalating tensions between the United States and Iran, which have led to increased risk premiums in energy markets. The rising energy costs impact core inflation and pose a challenge for central banks striving to maintain price stability amid fluctuating interest rates and bond markets. Despite the resilience of the U.S. economy, which supports consumer spending and the labor market, Europe faces challenges due to high energy costs, while China is experiencing a slowdown in some economic indicators despite strong exports.
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