Saturday, July 31

Used cars

Economy, Fed, Federal Reserve, inflation, Inflation debate, Inflation Expectations, inflation fears, inflation gauge, inflation outlook, inflation risk, Jerome Powell, Markets, MI Exclusive, Mohamed El-Erian, New cars, semiconductor chips, semiconductor shortage, Used cars

There is a fundamental misunderstanding of inflation and its spread throughout sectors of the economy proves it is not isolated or transitory, Mohamed El-Erian says

Mohamed El-Erian. Rob Kim/Getty Images Mohamed El-Erian said there is a fundamental misunderstanding of inflation because few people have lived through it. "I always laugh when people say, oh, it's isolated, it's transitory," El-Erian told CNBC on Monday. He also disagreed with the Federal Reserve's view that inflation is transitory. Sign up here for our daily newsletter, 10 Things Before the Opening Bell Economist Mohamed El-Erian in an interview Monday took aim at assessments of inflation that describe rising prices as "transitory," stating that there is a fundamental misunderstanding of what inflation is and how it is already spreading throughout the economy. "I always laugh when people say, oh, it's isolated, it's transitory," Allianz's chief economic adviser told CNBC. "I th...
Auto Industry, car buying, chip shortage, Economy, Transportation, Used cars

Why used cars are so expensive now — and when prices may drop

Used-car prices have skyrocketed over the last year. A supply crunch in new cars is spurring demand for used models. Prices may not return to normal for at least a year, one expert told Insider. See more stories on Insider's business page. If you're looking to get a sweet deal on a used car to take advantage of the warm summer weather, it's not going to happen. The market for secondhand cars is absurdly and unprecedentedly hot right now. Used vehicles went for a whopping 40% more in June than they did before the pandemic in February of 2020, according to data from JPMorgan. The average nine-year-old car changed hands for $13,250...