• Mohammed El-Erian has declared that the US alone has escaped the “new normal,” a concept he coined in 2009 to predict subdued growth for the post-financial crisis economies.
• Now that the US has reached “escape velocity” and people start coming back to the labor market, the Fed can keep on raising rates.
• We will argue this is both premature and contains considerable risks.

Source: A New, New Normal For The U.S. Economy? | Seeking Alpha