El-Erian: The Fed Will End Up 'Flip-Flopping'

The transcript discusses the economic challenges over the next 18 months, focusing on three major changes: globalization, policy flexibility, and reliance on artificial growth. It highlights the central bank's dilemma in choosing between inflation and growth issues, suggesting a potential for policy flip-flopping. The discussion also covers the Fed's hawkish stance and market reactions, emphasizing the difficulty in catching up with market expectations.

What potential problems does the speaker foresee if the Fed continues to flip-flop on its policies?

In what way does the speaker believe the Fed is being forced to change its stance?