Economist Mohamed El-Erian says Jerome Powell “hasn’t looked forward enough” on interest rates

Federal Reserve chair Jerome Powell signaled Friday that he could cut interest rates soon, which comes after months of pressure from the Trump administration. Allianz chief economic adviser Mohamed El-Erian tells “Face the Nation with Margaret Brennan” that many economists think Powell should cut rates earlier as well, saying that he believes that Powell “hasn’t looked forward enough” on interest rates and that the Fed chair has “been very data dependent. And therefore, he has tended to be late.”