Posted 1/26/2024, 6:10:00 PM
Billionaire Investor Gundlach Doubts Low Unemployment Rate Amid Rash of Layoffs, Sees Fed Eventually Cutting Rates
- Billionaire bond fund manager Jeffrey Gundlach questions recent unemployment data showing rates remaining low
- 88% of states report rising unemployment over last 6 months, hard to square with national data Gundlach
- Points to recent major company layoffs and job cuts accelerating 98% in 2023
- Sees similarities between current markets and inflation fight of late 1970s/early 80s
- Predicts Fed Chair Powell will cut rates in 2024, partly due to presidential election year politics