Powell will do bad job explaining Fed cut: Gundlach

Federal Reserve Chairman Jerome Powell will do a bad job explaining a 25-basis point interest rate cut next week, said Jeffrey Gundlach, chief executive of DoubleLine. Powell “ping pongs” around in his discussion of the economy rather than taking a longer-term view, he said. Powell will drop his “mid-cycle adjustment” language after that received an unfavorable market reaction, Gundlach forecasted.

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