CNBC, Released on 9/19/24 (Recorded on 9/18/24)

DoubleLine CEO and Founder Jeffrey Gundlach joins CNBC’s Scott Wapner on Fed Day, Sept. 18, 2024, at DoubleLine’s downtown L.A. office to discuss the Federal Reserve’s half-point rate cut, which Mr. Gundlach forecasted and supports. Other topics include:

• Why Mr. Gundlach thought the Fed should have cut in July.
• Mr. Gundlach: “I think the word of the day was ‘recalibration.’ (Fed Chair Jerome H. Powell) said it a lot of times that they’re recalibrating the rates. I think he seemed relaxed to me and cracked a couple of jokes, which you don’t see much from Mr. Powell.”
• Is the Fed concerned about cutting again in November right before the elections?
• Mr. Gundlach on recession prospects: “I still think there’s a good shot that the history books will say September of ’24 was the start of a recession.”
• Why Mr. Gundlach expects 75 bps of more cuts in 2024.
• How credit investors should react to today’s investment environment.
• Mr. Gundlach’s concern for future economic policy: “The problem that I worry about is that our responses to recessions have been incrementally more money printing.”
• Mr. Gundlach on the prospects for a golden age for fixed income: “The golden age for fixed income was a year ago, when spreads on high yield bonds were 500 over, and the base rate was at 5%.”
• Why Mr. Gundlach thinks private credit is in a bubble.
• Mr. Gundlach on the outlook for gold: “I think that the path of least resistance for gold continues to be up.”

Jeffrey Gundlach is the Chief Executive Officer and Chief Investment Officer of DoubleLine Capital. He is recognized as an expert in bond and fixed income investments. His investment strategies have been featured in leading publications from around the world In 2013, he was named “Money Manager of the Year” by Institutional Investor. He is a graduate of Dartmouth College summa cum laude holding a BA in Mathematics and Philosophy. He attended Yale University as a PhD candidate in Mathematics.

  bond market, economy, federal reserve, gold, inflation, investing, Jeffrey Gundlach, stock market