Gundlach expects to cut interest rates once this year, and the Fed will continue to fight inflation

key point

DoubleLine Capital CEO Jeffrey Gundlach said Wednesday that he doesn’t think there will be more than one rate cut this year.
The prominent fixed-income investor said the most important moment of Wednesday’s Fed policy event was Chairman Powell’s all but ruling out a rate hike.
U.S. Treasury yields fell to session lows and stocks surged to session highs as Powell said the next policy move would not be a rate hike.