El-Erian Says 'True to 2% Target' Fed Would Hike in June

The transcript discusses the US economy's strong job creation, highlighting the dualism between manufacturing and services. It addresses the challenges the Federal Reserve faces in policy-making, especially in communication and market guidance. The discussion also covers expectations for a rate hike, emphasizing the importance of data dependency and the current economic indicators pointing to stronger-than-expected data.

What does the author imply about the Federal Reserve's communication strategy?

What is the significance of the 2% target mentioned in the text?