January 30, 2019 / 10:44 PM / 7 months ago

DoubleLine CEO Gundlach says Fed's Powell 'caving to the stock market'

Jan 30 (Reuters) - Fragile equity markets forced Federal Reserve chairman Jerome Powell to pledge on Wednesday that the Federal Reserve will be patient with future interest rate hikes, said Jeffrey Gundlach, chief executive of DoubleLine Capital.

“He’s caving to the stock market. The stock market scared him,” in late 2018, Gundlach, who oversees $123 billion, said in a phone interview with Reuters. (Reporting By Jennifer Ablan Editing by Bill Berkrot)

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