Powell's taken too narrow a view on jobs market, says Allianz's Mohamed El-Erian

Federal Reserve Policy & Interest Rates - A significant portion (67%) of surveyed individuals believe the Federal Reserve is making a mistake by not cutting interest rates sooner or more aggressively [3] - Concerns exist that the Federal Reserve's narrow view of the job market is ignoring emerging weaknesses, potentially leading to accelerated damage [4] - A potential interest rate cut is anticipated in September, with debate over whether it should be 25 or 50 basis points (0.25% or 0.50%) [5] - The Federal Reserve previously implemented a jumbo cut of 50 basis points (0.50%) in September after refusing to cut rates in July [7] - Over-reliance on the Federal Reserve is questioned, suggesting it should step back and allow other governmental elements to drive economic growth [9][10] Economic Risks & Structural Reform - The risks to the economy are considered higher than a year ago due to the erosion of financial security among lower-income households [7] - Structural reforms, particularly faster and more even diffusion of innovations like AI, life sciences, and robotics, are crucial for sustaining growth and productivity [10][11][12]