Bond King Jeffrey Gundlach warns over US economy as Americans' debt piles up: 'Concerning' [FOX Business Network]
TransUnion (TRU)
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Source: FOX Business Network
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. 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 stil
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