DoubleLine Capital CEO Jeffrey Gundlach predicts that interest rates will decrease as the economy worsens and enters a recession in early 2024. The Federal Reserve has chosen to keep rates steady at their current range between 5.25% to 5.5%. Gundlach points to indicators such as a rise in the unemployment Rate, an inverted yield curve, and layoffs in the financial and technology sectors as signs of an economic slowdown. He also expresses concern about the growing federal deficit and unsustainable government spending. Fed Chair Jerome Powell has stated that the committee has not yet considered a rate cut.
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