Top economist Mohamed El-Erian says there’s a ‘new definition’ for a soft landing and argues ‘we can’t avoid a recession’

Mohamed El-Erian says the likelihood of a U.S. recession in 2022 is “uncomfortably high.” The economist said he fears a recession may now be inevitable if the Federal Reserve wants to reduce inflation to its 2% target. The Fed has raised interest rates seven times in 2022 hoping to cool the economy and tame inflation. . . .