Policymakers around the world are struggling to confront a surging greenback and lofty US interest rates, according to Mohamed El-Erian.
“Authorities are a little bit frozen around the world as to how do you react to a generalized dollar strengthening?” El-Erian, the president of Queens’ College, Cambridge and a Bloomberg Opinion columnist, told Bloomberg Television Tuesday. “How do you react to a generalized increase in interest rates in the US?”