June 19, 2019 / 8:14 PM / 5 months ago

DoubleLine's Gundlach: Fed doing 'what the bond market says - with a lag'

June 19 (Reuters) - Jeffrey Gundlach, chief executive of Doubleline Capital, said on Wednesday that the Federal Reserve is doing “what the bond market says - with a lag.”

“The bond market definitely helped to encourage the ‘Fed pivot’” said Gundlach, who oversees more than $130 billion in assets.

The U.S. Federal Reserve on Wednesday signaled it could cut interest rates by as much as half a percentage point over the remainder of this year, as it responded to increased economic uncertainty and a drop in expected inflation. (Reporting by Jennifer Ablan Editing by Tom Brown)

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