FILE PHOTO: Jeffrey Gundlach, CEO of DoubleLine Capital LP, will present at the 2019 Sohn Investment Conference in New York, USA, on May 6, 2019. REUTERS / Brendan McDermid
(Reuters) – Jeffrey Gundlach, chief executive of Doubleline Capital, said on Wednesday the Federal Reserve is doing "what the bond market says – with a delay."
"The bond market has definitely helped to encourage the Fed's pivot," said Gundlach, who oversees more than $ 130 billion in assets.
The US Federal Reserve on Wednesday signaled it could cut interest rates by up to half a percentage point over the remainder of this year as it responded to rising economic uncertainty and a drop in expected inflation.
Report of Jennifer Ablan; Edition by Tom Brown