Jeffrey Gundlach, Wall Street’s bond king and Founder and Chief Executive Officer of DoubleLine, which manages $120 billion, expressed his take on the FOMC patience stance and its impact on the global stock markets.
Key Quotes (Source: Reuters):
“Fragile equity markets forced Federal Reserve to vow patience with future interest rate hikes.
Fed Chair Powell is ‘caving to the stock market’; thinks the Fed is also reacting to consumer price inflation falling below 2 percent.”
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