From Reuters:
Jeffrey Gundlach, chief executive officer at DoubleLine Capital, said on Tuesday he expects the Federal Reserve to begin a campaign this month of “old school” sequential interest rate hikes until “something breaks,” such as a U.S. recession.
Gundlach, who oversees more than $101 billion at Los Angeles-based DoubleLine, said U.S. economic data support a rate increase as soon as the next Fed policy meeting on March 14-15, and further rises this year, after a series of false starts in 2015 and 2016.
…Gundlach, known on Wall Street as the “Bond King,” said on the webcast that inflationary pressures are increasing as well as business confidence, which will translate into a stock market that will “grind higher.”
But Gundlach, who repeated his warning Tuesday that U.S. stocks are not cheap, said he holds Treasury inflation-protected securities and gold against this economic backdrop.
Yep. Trump boom and bust. Old school.
Here’s the whole dang thing.
