Market needs urgent correction! ECB rate cut to exceed Fed's

Mohamed El-Erian, Chief Economic Advisor at Allianz, believes that the market has underestimated the prospect of rate cuts by the European Central Bank, expecting the rate cut to exceed that of the Federal Reserve. Despite the weakness in the Eurozone economy, interest rate swaps indicate that traders are betting on a rate cut of around 140 basis points. El-Erian points out that the rate cut by the European Central Bank will exceed that of the Federal Reserve, and emphasizes that the Federal Reserve should not overly focus on every economic data point