El-Erian: Nobody Knows What a Neutral Rate Is

The video discusses the rise in break evens and the Fed's approach to reaching neutral interest rates. It highlights the uncertainty surrounding the concept of neutral rates and the internal divisions within the Fed. The discussion also covers the implications of the Fed's delayed policy adjustments, which may lead to a stop-go dynamic in the market.

In what ways might the Fed's actions impact the broader economy and markets?

What does the phrase 'stop-go element' refer to in the context of policy adjustments?