May 27, 2016 / 6:35 PM / 3 years ago

DoubleLine's Gundlach: Yellen remark 'doesn't suggest' June hike

Jeffrey Gundlach, Chief Executive Officer, DoubleLine Capital LP., speaks at the Sohn Investment Conference in New York City, U.S. May 4, 2016. REUTERS/Brendan McDermid

(Reuters) - Jeffrey Gundlach, the CEO of DoubleLine Capital, said Friday that Federal Reserve chair Janet Yellen’s remarks that a rate hike would be appropriate in coming months “doesn’t suggest” a hike in June.

Wall Street trimmed gains in early afternoon trading on Friday after Yellen said it would likely be appropriate to raise rates “in the coming months.” But Gundlach said he still believes Yellen was more dovish in her comments Friday than her Fed colleagues.

Reporting By Jennifer Ablan; Editing by Chizu Nomiyama

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