The strong GDP report isn't a sign the US has dodged a recession, Mohamed El-Erian said.
High interest rates still pose a big threat to households, business, and the US government.
AdvertisementAdvertisementWhile the GDP numbers underscore US "exceptionalism," El-Erian said, high interest rates are impacting all corners of the economy, and that's something to watch out for.
"Secondly, what's been happening in the interest rate market is really problematic.
Expecting interest rates to remain higher for the foreseeable future, the bond market has witnessed a historic sell-off in recent months.
Persons:
Mohamed El, Erian, —, it's, I've
Organizations:
Service, Fed, Treasury