Billionaire bond investor Jeffrey Gundlach: Recession likely by Q2 2024
While most investors believe another rate hike is on the way, DoubleLine Founder and CEO Jeffrey Gundlach is not one of them. During Yahoo Finance Invest, Gundlach told Executive Editor Brian Sozzi "I think the Fed has stopped raising interest rates, I don't think they're gonna do it again." The uncertainty surrounding the Federal Reserve this year has caused ripple effects in the markets, raising concerns about just how all of this will end. Gundlach explained his biggest concern right now, saying, "What worries me the most is the concept of higher for longer." He explained that he does not think the Fed will cut rates in 2024, rather they will stay higher for longer, or "the economy will noticeably weaken, and they will do what they always do, and that is cut interest rates much more rapidly than they raised them." Gunlach also spoke about the 2024 election, the economy, consumer spending, and why he is concerned with the bond market. Click here to watch more from Yahoo Finance Invest.