Gundlach Suspects Fed Will Push Back Against Pivot Narrative

The Federal Reserve will likely push back against suggestions it will soon halt interest-rate increases and then start to ease policy by year’s end, according to DoubleLine Capital LP Chief Investment Officer Jeffrey Gundlach.

The US central bank meets Wednesday and is expected to hike its benchmark by 25 basis points, according to a Bloomberg survey of economists. Gundlach’s comments came after BlueBay Asset Management Chief Investment Officer Mark Dowding earlier this week suggesting the market had been too quick to price in a dovish Fed.