Markets may face a wild ride, but there will be strong investing opportunities, according to one leading economist.
Mohamed El-Erian, Allianz’s chief economic advisor, spoke with CNBC’s “Squawk on the Street” on Monday morning.
“We have a bumpy road ahead of us, but I keep on stressing, it will create a lot of attractive opportunities,” he said, adding that investors may want to key in on a fundamental shift in economic conditions—rather than Federal Reserve policy decisions.
All eyes are on the Fed, which some predict could announce a rate increase when the Federal Open Market Committee meets later this week.
If the central bank opts to raise short-term interest rates, the effects would likely be broadly felt across many markets, but El-Erian said it’s not obvious if the Fed will make that move.