Bond King Jeffrey Gundlach warns over US economy as Americans' debt piles up: 'Concerning' [Yahoo! Finance]
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Source: Yahoo! Finance
"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. HIGH INFLATION IS CHANGING THE WAY AMERICANS RETIRE 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 still feeling the impact of high prices and offsetting the sting with credit cards. Gundlach stressed that credit card bills are startin
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