DoubleLine's Gundlach says Fed unlikely to reduce stimulus in October
NEW YORK (Reuters) - Jeffrey Gundlach, chief executive of DoubleLine Capital, said Thursday that the U.S. Federal Reserve is not likely to scale back the pace of its monthly bond-buying during its meeting in October.
The Fed's $85 billion in monthly bond purchases will likely continue through January given the small likelihood of a "monumental change" in U.S. economic data, Gundlach said on an investor webcast.
The Los Angeles-based DoubleLine Capital had $57 billion in assets as of June 30.
(Reporting by Sam Forgione; Editing by Diane Craft)