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Jeffrey Gundlach, the founder, CEO and chief investment officer of DoubleLine Capital, said the Federal Reserve may raise interest rates in December because of the strength in the latest jobs report, but he still opposes the move.

In a presentation at this week’s Schwab Impact conference in Boston, Gundlach laid out myriad reasons for the Fed to wait on its first hike in more than nine years, including the fact that workers 55 and older accounted for virtually all the 271,000 jobs gained in October. Still, he said the 2.5% increase in hourly wages from October 2014 could push the Fed to finally make its move.

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