Inflation could reach as high as 10% this year and it is crucial for the Federal Reserve to start hiking interest rates aggressively to slow it down, according to Jeffrey Gundlach, DoubleLine Capital CEO and chief investment officer.
It’s the Fed’s job to “fight inflation,” Gundlach said Tuesday in a webcast, adding: “They’ve done a terrible job of it so far. All they did was try to jawbone it down,” claiming it was just “temporary” and “transitory.”
Meanwhile, inflation has just gone higher and “that’s likely to continue as the inflation ‘convoy’ keeps rolling along,” the money manager said, referring to the Russia-Ukraine war and other market issues that continue to spur inflation.
Check out the slideshow above to view the top 10 updated predictions that Gundlach made on Tuesday, following his 2022 predictions in December.
At top: DoubleLine CEO Jeffrey Gundlach (Photo: Alex Flynn/Bloomberg)