Mohamed El-Erian

FILE - People transport a television to their car after shopping during a Black Friday sale at a Best Buy store on Friday, Nov. 26, 2021, in Overland Park, Kan. Prices for U.S. consumers jumped 6.8% in November compared with a year earlier as surging costs for food, energy, housing and other items left Americans enduring their highest annual inflation rate since 1982. (AP Photo/Charlie Riedel, File)

Economist: Federal Reserve made a mistake on Biden inflation

Economist Mohamed El-Erian is criticizing the Federal Reserve for failing to tackle inflation. During an interview Sunday, he said the U.S. has not yet reached peak inflation and it could go higher from last month’s reading of 6.8 percent.