From Marketwatch -- Investors have to come to grips with the fact that the stock market sell-off won't derail the Fed's intentions to push interest rates up further, said Mohamed El-Erian, in an interview on CNBC on Wednesday.
"The market has to realize this is a different Fed," El-Erian said. "The Fed put, as people like to call it, is way out-of-the-money now," he added. El-Erian, chief economic advisor for Allianz, said growth prospects remain good for the U.S. economy for the next two years given strong business investment, rising household income and supportive fiscal policy.
"You have three domestic engines revving up at the same time," he said.