Mohamed El-Erian sees the rollercoaster ride in financial markets, with Friday’s surprisingly strong US jobs report producing the latest drop, as another lesson for Chairman Jerome Powell and his Federal Reserve colleagues.

In a Bloomberg Opinion column on Tuesday, the former chief executive officer of Pacific Investment Management Co. Mohamed El-Erian wrote how a recent swing toward tighter monetary policy after months of letting U.S. inflation accelerate to the highest since the 1980s has put the Fed in a terrible position.

Mohamed El-Erian, who last year predicted inflation would be the problem it is now, says investors should “just be humble and have humility” to navigate the heightened geopolitical uncertainties after Russia’s invasion of Ukraine.