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Gas jumped from $2.98 to $4.39 — and El-Erian says we have weeks to avoid a full-blown recession
Key takeaways
- That's the stark assessment from Mohamed El-Erian, who was CEO of PIMCO and chair of former President Obama's Global Development Council.
- He recently put a precise deadline on what has become a pressing economic crisis, stating it will "avoid a recession, provided — and here's the important thing — the Straits are reopened in the next four to eight weeks.
- Thanks to Jeff Bezos, you can now become a landlord for as little as $100 — and no, you don't have to deal with tenants or fix freezers.
Gas jumped from $2.98 to $4.39 — and El-Erian says we have weeks to avoid a full-blown recession Aditi Ganguly Sat, May 16, 2026 at 7:00 PM GMT+7 8 min read Moneywise and Yahoo Finance LLC may earn commission or revenue through links in the content below.
The global economy is running out of time. That's the stark assessment from Mohamed El-Erian, who was CEO of PIMCO and chair of former President Obama's Global Development Council.
He recently put a precise deadline on what has become a pressing economic crisis, stating it will "avoid a recession, provided — and here's the important thing — the Straits are reopened in the next four to eight weeks. If they're not … it will look very different," Fortune reported (1).
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