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Jeffrey Gundlach Tells CNBC That Powell Is ‘Very Short-Termist’

DoubleLine Capital Chief Executive Officer Jeffrey Gundlach took Federal Reserve Chairman Jerome Powell to task for what he said were “contradictory” statements after the central bank raised rates by 75 basis points on Wednesday. 

Gundlach, speaking in an interview on CNBC, said Powell’s comments earlier in the day showed the Fed chair had taken a short-term outlook and made a “complete U-turn on some of the things” said “six weeks ago and six months ago.”