Mohamed A. El-Erian , Columnist

What to Expect From the Fed and ECB This Week

Both central banks will continue to unwind their extraordinary measures, but at different paces.

June 11, 2018 at 2:00 AM EDT

Mohamed A. El-Erian is a Bloomberg Opinion columnist. A former chief executive officer of Pimco, he is president of Queens’ College, Cambridge; chief economic adviser at Allianz SE; and chair of Gramercy Fund Management. He is author of “The Only Game in Town.”

Turbulence from trade.
Photographer: Leon Neal/Getty Images

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The meetings of the Federal Reserve and the European Central Bank this week are likely to show that these systemically important institutions continue to gradually move away from the policy approach they adopted to contain the trauma of the global financial crisis from 2010 to 2017. Yet the two institutions are making this shift at different speeds, and that difference could become more pronounced, raising interesting questions for markets.

At its June 13 gathering, expect the Fed to:

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