Bond King Jeffrey Gundlach warns over US economy as Americans' debt piles up: 'Concerning'
foxbusiness.comDoubleLine Capital CEO and founder Jeffrey Gundlach discusses the state of the U.S. economy, rate hikes, the impact of the 2024 election and Biden's handling of Israel amid its war with Hamas.
As Americans’ debt grows, recession fears are re-fueled, and the Fed grapples with the pressure to cut rates, Bond King Jeffrey Gundlach shares his grim take on the economy’s obstacles.
«I think the data that’s come out is quite concerning over the past week,» the DoubleLine Capital CEO and founder said about the country’s economy on «Mornings with Maria.»
«A month ago, if you subdivide the economy into six or seven major sectors, all of them were experiencing positive growth. All of a sudden, in those same numbers this year, more are negative than positive, and the positive ones are less positive,» Gundlach explained.
Hennion & Walsh Chief Investment Officer Kevin Mahn discusses whether the Fed has a path to three rate cuts in 2024 on 'The Big Money Show.'
HIGH INFLATION IS CHANGING THE WAY AMERICANS RETIRE
The Labor Department said that the consumer price index (CPI), a broad measure of how much everyday goods like gasoline, groceries and rent cost, rose 0.3% in April from the previous month. Economists expected to see a 0.4% monthly increase. Prices climbed 3.4% from the same time last year, down from the 3.5% reading in March.
Unfortunately, Americans are still feeling the impact of high prices and offsetting the sting with credit cards.
Gundlach stressed that credit card bills are starting to «add up.»
AMERICANS ARE CARRYING A RECORD AMOUNT OF HOUSEHOLD DEBT
'Kudlow' panelists Kevin Brady, Art Laffer and Sandra Smith discuss how 'Bidenomics' is falling flat with voters.
"I think that the lifestyle adjustment that was
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