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Mohamed El-Erian says regional banks are in a ‘hospital’ phase of turmoil, but a Fed policy mistake will drive them ‘back into the ICU’

The turmoil engulfing the regional banking sector this year has stepped out a severe stage but could reaccelerate if the Federal Reserve makes another policy misstep, economist Mohamed El-Erian said Tuesday. “We are still in the hospital because there are problems with the banking model of certain …

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