Jeffrey Gundlach, the founder, CEO and chief investment officerof DoubleLine Capital, said the Federal Reserve may raise interestrates in December because of the strength in the latest jobsreport, but he still opposes the move.
In a presentation at this week's Schwab Impact conference inBoston, Gundlach laid out myriad reasons for the Fed to wait on itsfirst hike in more than nine years, including the fact that workers55 and older accounted for virtually all the 271,000 jobs gained inOctober. Still, he said the 2.5% increase in hourly wages fromOctober 2014 could push the Fed to finally make its move.
“That is what the Fed is leaning on,” Gundlach said. But he alsonoted that the Fed could delay once again if the dollar continuesto rally; more specifically, if the dollar index (DXY) closes above100 for two consecutive sessions.
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Bernice Napach
Bernice Napach is a senior writer at ThinkAdvisor covering financial markets and asset managers, robo-advisors, college planning and retirement issues. She has worked at Yahoo Finance, Bloomberg TV, CNBC, Reuters, Investor's Business Daily and The Bond Buyer and has written articles for The New York Times, TheStreet.com, The Star-Ledger, The Record, Variety and Worth magazine. Bernice has a Bachelor of Science in Social Welfare from SUNY at Stony Brook.
