El-Erian Says Strong Jobs Data Closes Door on July Fed Rate Cut

What You Need To Know

• Nonfarm payrolls climbed 272,000 last month versus the 180,000 forecast by economists.
• There is no way the Fed can signal a cut regardless of the CPI number reported next week, Allianz's chief economist says.
• A too-quick move by the Fed would be tough to correct, he says.