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Economy
Traders work on the floor of The New York Stock Exchange
A trader on the floor of The New York Stock Exchange.

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  • The US economy is barreling toward a serious recession, DoubleLine Capital's Jeffrey Sherman says.
  • Sherman predicts an embattled Fed will cut interest rates by a whole percentage point in response.
  • DoubleLine CEO Jeffrey Gundlach has also warned of a recession and a flurry of loan defaults.

The US economy will suffer a severe recession, spurring the Federal Reserve to slash interest rates by a whole percentage point at once, DoubleLine Capital's chief investment officer says.

Tags
economy, Inflation, Recession, Federal Reserve, Interest Rates, Monetary Policy, Yield Curve, DoubleLine Capital, Jeffrey Sherman, Jeffrey Gundlach, US Economy and Markets
Source
A severe recession is on the horizon - and the Fed will axe interest rates to l…