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relates to Fed Will Probably Change Its Approach to Inflation, Dudley Says relates to Pemex Assistance Plan Fails to Impress Bondholders relates to Hedge Funds See Windfall From Bets on Puerto Rico After Storm relates to ECB Moves Closer to Global Dovish Shift as Coeure Mulls Loans relates to Fed’s Clarida Watches a Price Gauge That Just Tied a Record Low relates to Surprise! Refinancing Complex Debt Instruments Is Hard relates to European Shares Steady as Trade Talks Wind Up relates to Foreigners Dump Canadian Bonds at Record Levels relates to Coeure Says Boosting Euro's Global Role Could Help ECB Policy relates to Emerging Markets Retreat Amid Global Growth Concerns: EM Review
relates to Fed Will Probably Change Its Approach to Inflation, Dudley Says relates to Pemex Assistance Plan Fails to Impress Bondholders relates to Hedge Funds See Windfall From Bets on Puerto Rico After Storm relates to ECB Moves Closer to Global Dovish Shift as Coeure Mulls Loans relates to Fed’s Clarida Watches a Price Gauge That Just Tied a Record Low relates to Surprise! Refinancing Complex Debt Instruments Is Hard relates to European Shares Steady as Trade Talks Wind Up relates to Foreigners Dump Canadian Bonds at Record Levels relates to Coeure Says Boosting Euro's Global Role Could Help ECB Policy
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Jeffrey Gundlach Says Trump Is ‘Crazy Like a Fox’ to Blame Fed for Sell-Off

Jeffrey Gundlach Says Trump Is ‘Crazy Like a Fox’ to Blame Fed for Sell-Off

Fed Is Far From Crazy, Says Standard Chartered's Vinals

President Donald Trump is “crazy like a fox” for calling the Federal Reserve “loco” after U.S. stock markets plunged, according to Jeffrey Gundlach, chief investment officer of bond manager DoubleLine Capital.

“When it comes to President Trump, it’s clear to me that he’s being crazy like a fox with this Fed rhetoric where he doesn’t want to take the blame,” Gundlach, whose Los Angeles-based firm oversees about $123 billion, said during an interview Thursday on CNBC.

Trump on Wednesday slammed the Fed as “going loco” and today said the central bank was “out of control” because it was unnecessarily raising interest rates and causing the stock market to fall. Gundlach said the Fed has taken too long to lift rates, which he expects to continue to rise as U.S. deficits increase following tax cuts and budget growth.

U.S. stocks were mixed a day after concerns over surging rates and trade tensions with China sparked the biggest selloff in eight months. Gundlach predicted in January that stocks would fall this year if Treasury yields climb too fast. He said in a Sept. 18 tweet that if rates on 30-year U.S. Treasuries closed for two straight days above 3.25 percent it would be a “game changer.” The gauge has exceeded that level since Oct. 3.