"Jeffrey Gundlach Warns of Recession Risk Amid 'Goldilocks' Talk"
TL;DR Summary
DoubleLine Capital CEO Jeffrey Gundlach expressed skepticism about the "Goldilocks" economic scenario and reiterated his belief in a likely recession this year, following Federal Reserve Chair Jerome Powell's message on Wednesday. He warned that the market's faith in a not-too-hot, not-too-cold economic expansion was blindly optimistic and suggested raising cash for buying opportunities when an economic downturn arrives. Stocks tumbled as Powell indicated that the central bank is not yet ready to ease up on the brakes, and Gundlach still expects a recession in 2024.
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