Inflation and housing costs drive negative economic sentiment, says El-Erian

Allianz chief economic advisor Mohamed El-Erian explains why Americans feel pessimistic about the economy despite positive data points, highlighting eroded purchasing power and housing market barriers, on 'Kudlow.'

Allianz chief economic advisor Mohamed El-Erian joins 'Kudlow' to analyze why public sentiment remains negative despite strong economic data. He explains that cumulative inflation over five years has eroded consumer purchasing power. Additionally, high mortgage rates and soaring prices continue to crowd younger buyers out of the critical housing market.