Here's your summary from This Jobs Report Closes Door on a July Rate Cut, El-Erian Says (https://www.youtube.com/watch?v=m14OOjmN_Qg) on the Bloomberg Television channel:

### TLDR:

The strong jobs report suggests no rate cut in July, but the economy is weakening and facing inflation challenges.

### Key Points:

1. The strong jobs report indicates no rate cut in July, regardless of CPI numbers.

2. The economy is weakening with no spare tires and limited fiscal stimulus.

3. Global factors are contributing to a more inflationary world, raising questions about the right inflation target.

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