Gundlach Says Fed Plans Are "Seat of the Pants"
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Wednesday, September 11, 2013

Gundlach Says Fed Plans Are "Seat of the Pants"

Ben Bernanke can't catch a break. He's had everyone from Bill Gross to MarketWatch's Paul Farrell question his leadership skills, and now it's Jeffrey Gundlach's turn.

During a webcast to DoubleLine [profile] investors, Gundlach said the Fed is making a "big mistake" in how it chooses to begin tapering, Bloomberg's Alexis Leondis reports.

Gundlach called the Fed's plans as flying by the "seat of the pants," Leondis writes. Gundlach was quoted as saying, "We thought the Fed wouldn't walk away from QE," Leondis writes. In an email, Gundlach was quoted as stating by Leondis, "I have never liked QE and I think it is a poor replacement for sound fiscal policy. Having embarked on QE, the Fed ushered in a new regime of dealing with the fiscal problems underlying the U.S. economy. Ending QE would allow the fiscal problems to reemerge."

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