"New Bond King" Gundlach: A significant 50 basis point rate cut is still not enough, the Federal Reserve is a bit behind the curve

Gonglak said that a 50 basis point rate cut by the Federal Reserve is not enough to address the potential recession in the U.S. He believes that the Fed is lagging behind in responding to the economic situation and expects further rate cuts. He pointed out that consumer debt levels are high, credit card interest rates are too high, future economic data may be weak, and he predicts that September 2024 may be the beginning of an economic downturn