Mohammed El-Erian, Chief Economic Adviser at Allianz, PIMCO’s parent company, where he was previously CEO, recently appeared for an interview on CNBC to discuss inflation, the Federal Reserve and Bitcoin’s price surge as a result of monetary policy .

In the interview, El-Erian was asked what would happen to gold, bitcoin and other cryptocurrencies if his predictions that the Federal Reserve (Fed) would change its inflation target came true.

“They both go higher,” El-Erian replied, but understanding his prediction makes them much more meaningful. The interview began with El-Erian being asked to explain the state of inflation in the economy.

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