Fed Holds Steady! "New Bond King" Publicly Questions: Why Not Raise Rates? What Are They Waiting For?

Jeff Gundlach, founder of DoubleLine Capital and known as the "new bond king," publicly questioned the rationale behind the Federal Reserve's decision to hold rates steady on Wednesday, saying bluntly that he cannot understand why the Fed is not raising rates further. "What are you waiting for? You just upgraded your assessment of the economy," Gundlach said. He was referring to Fed Chair Kevin Warsh's comments on the strong macroeconomic environment at the press conference following the latest interest rate decision.