El-Erian Says Traders' Odds of Fed Hike Too Low

The transcript discusses the impact of interest rate hikes on market expectations, focusing on the yield curve's behavior and the influence of global factors. It highlights the bear flattening of the yield curve, the role of the Federal Reserve, and the potential for increased market volatility. The discussion also touches on the global economy's influence on US markets and the challenges faced by central banks in managing economic stability.

What are the potential consequences of a stronger dollar on the markets?

In what ways might the Federal Reserve's policies be perceived as a mistake?