According to Mohamed El-Erian, the Federal Reserve should not let signs of a recession distract from its fight against inflation. Allianz chief economic adviser said on “Squawk Box” on Thursday that the central bank should consider a slowing economy, but inflation remains a top concern. “Yes, inflation will fall at headline levels, but it won’t fall fast enough given how quickly the economy is weakening. And that will put the Fed in the same dilemma as it has been in the past few months. ,” El-Erian said. “I hope the Fed focuses on getting the god of inflation back to normal. The worst outcome is that next year we will have a recession and inflation has proven very hard,” El-Erian said. On Thursday, the Office of Economic Analysis released preliminary GDP figures showing decline of 0.9% in the second quarter, following another contraction in the first quarter Two consecutive declines in GDP are sometimes used as an abbreviated definition for recession, although the Bureau of Research The National Economy officially designates recessions using more nuanced criteria. This is an economy that is weakening at a much faster rate than most people expect. That is the key point. Whether we’re in a recession or not isn’t as interesting as we’re weakening very quickly,” El-Erian said, the comments came after the Federal Reserve raised interest rates by three-quarters of a percentage point. Fed Chair Jerome Powell said that “inflation is too high” but also said the central bank could slow the pace of rate hikes at future meetings.