Allianz's El-Erian: 'Amazing' how muted market reaction has been to Fed independence attacks

Let's bring in, as we said, Alian's chief economic adviser, Muhammad Ali. And of course, Muhammad was also the former CEO of PIMCO. It's great to have you in Muhammad.Welcome. Great to have you back on the desk as well. Thanks for having me, Col.Um, someone said today it's uh the best response to an attack on Fed independence is a steepening, which is kind of what we're getting today. Is the market trying to say something. I think it is, but what's really amazing is how muted the market reaction is.Every as ...