In a recent interview on “Mornings with Maria,” DoubleLine Capital CEO Jeffrey Gundlach expressed concerns over the U.S. economy, highlighting a troubling shift in economic growth across major sectors from positive to more negative trends. Despite a slight easing in inflation, with the consumer price index (CPI) rising 0.3% in April compared to the expected 0.4%, Americans are increasingly relying on credit cards to cope with high prices. TransUnion data reveals an 8.5% increase in average debt per borrower, totaling $1.02 trillion in credit card debt. Gundlach anticipates a recession, however, the timing remains uncertain.
Bond King Jeffrey Gundlach warns over US economy as Americans’ debt piles up: ‘Concerning’
May 22, 2024
Article from Fox Business by Alicia Warren
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