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Fortune
Fortune
Jason Ma

America may lose its economic exceptionalism because of the Fed, El-Erian warns

US Federal Reserve United States Mohamed ElErian Recession Bloomberg TV
Mohamed El-Erian speaks (Credit: Samuel—Bloomberg via Getty Images)

Recession warnings have come and gone in recent years without a downturn materializing yet, but for top economist Mohamed El-Erian this time feels different.

The disappointing July jobs report sent recession fears soaring, and markets are now "screaming" two things: growth scare and policy mistake from the Federal Reserve, he told Bloomberg TV on Friday.

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