Jeffrey Gundlach, Wall Street’s bond king and Founder and Chief Executive Officer of DoubleLine, warned late-Wednesday that the Federal Reserve (Fed) rate cuts are unlikely to save the US from a recession.
Key Quotes:
Investors were “slowly trying to reconcile themselves that the bond market has been showing recessionary signals for quite some time.”
Rate cuts by the U.S. Federal Reserve were not going to stop a recession from happening and that “once the Fed is in easing mode, it is already too late.”
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