CNBC interviewed DoubleLine Capital CEO Jeffrey Gundlach, a partial report is here.
Reuters have a bit more from Mr. G also, from a phone interview. Gundlach makes very pertinent points indeed:
- The Fed's cautious stance on raising interest rates could backfire by creating uncertainty in the economy and hurt the U.S. central bank's credibility
- "This U-Turn - on nothing fundamentally changing - is unprecedented"
- "Three months ago, we were on 'autopilot' with the balance sheet - and now the bond market is priced for a rate cut this year. The reversal in their stance is stunning."
Will try to dig up a link to Reuters for more..... here we are Reuters
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I don't always agree with what Mr. G says (but acknowledge he is the billionaire :-D ) but hard to argue with his assessment on this.
