'Substantial risk' that Fed is about to make a serious mistake, Pimco advisor says

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CNBC

For years, the Fed faced criticism that it wasn’t being aggressive enough in raising rates. Now that it has started to hike, the central bank is under increasing fire for moving too soon.

The latest scrutiny comes from Joachim Fels, global economic advisor at Fed bond giant Pimco, who said the Fed shouldn’t be tightening policy with the evidence so clear that it is falling well short of its inflation mandate.

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