DoubleLine's Gundlach: The Fed has failed and is fundamentally broken

Dhwani Mehta FXStreet

The Fed has failed and is fundamentally broken, Jeffrey Gundlach, Wall Street's bond king and Founder and Chief Executive Officer of DoubleLine Capital, tweeted out early Wednesday.

Gundlach tweeted: “The Federal Reserve is presently acting in blatant non-compliance with the Federal Reserve Act of 1913. An institution violating the rules of its own charter is de facto admitting that said institution has failed and is fundamentally broken.”

‘Of course, the Federal Reserve will make some wonky semantic argument about why they are “technically” in “compliance”. Just like the balance sheet expansion program last fall was “not QE”.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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