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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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