'I'm really turning more bearish,' Jeffrey Gundlach, CEO of DoubleLine, tells CNBC on Wednesday, after the Federal Reserve's rate hike, while warning of more...
“I’m really turning more bearish,” Jeffrey Gundlach, CEO of DoubleLine, told CNBC on Wednesday, after the Federal Reserve raised rates by another 25 basis points to the highest level since 2007.
“It just seems to me that deposits are going to keep drifting out,” Gundlach told the business network. “I don’t think this is the last chapter in this regional banking problem.”Gundlach’s views contrasted with the reassuring message offered by Fed Chairman Jerome Powell on Wednesday, who looked to calm nerves about the U.S. banking system after the failure of First Republic Bank earlier in the week, and its subsequent takeover by JPMorgan Chase & Co. JPM .
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