Jeffrey Gundlach, chief executive and chief investment officer of DoubleLine Capital, speaks during the Sohn Investment Conference in New York May 4, 2015. REUTERS/Brendan McDermidThe Fed should have cut interest rates a lot sooner, according to Jeff Gundlach.The "Bond King" thinks the economy is already in recession, as evidenced by rising layoffs.Job cut announcements climbed 193% over the last month, per a report from Challenger.The Fed is cutting interest rates too late, as mounting job losses show that the US economy is already in a recession, according to Jeff Gundlach.The billionaire "bond king" and DoubleLine CEO pointed to the Fed's anticipated rate move on Wednesday, with markets expecting central bankers to lower the federal funds rate by 50 basis points at the conclusion of their policy meeting.
Comment on Fed rate cuts are arriving too late and layoffs show the US economy is already in a recession, bond king Jeff Gundlach says
jsor@businessinsider.com (Jennifer Sor), Business Insider
Wed, 09/18/2024 - 8:22am
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