Latest news with #DoubleLine
Yahoo
23-07-2025
- Business
- Yahoo
Fed Should Not Cut Rates, Says DoubleLine's Sherman
Jeffrey Sherman, deputy chief investment officer at DoubeLine, says US Federal Reserve Chair Jerome Powell shouldn't cut rates today. He is on "Bloomberg ETF IQ." Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Bloomberg
22-07-2025
- Business
- Bloomberg
Unlocking QQQ, Powell Rate Debate
"Bloomberg ETF IQ" focuses on the opportunities, risks and current trends tied to the trillions of dollars in the global exchange traded funds industry. Today's guests: Anna Paglia, State Street Investment Management Executive VP/Chief Business Officer; Jeff Sherman, DoubleLine Deputy CIO. (Source: Bloomberg)
Bloomberg
21-07-2025
- Business
- Bloomberg
Privatization Would Make Housing More Unaffordable: DoubleLine
DoubleLine Deputy CIO Jeffrey Sherman speaks with Katie Greifeld and Scarlet Fu on "Bloomberg ETF IQ." Privatizing Fannie Mae and Freddie Mac risks a return to the kind of perilous mortgages that helped cause the global financial crisis unless regulatory safeguards are kept in place, an affordable housing nonprofit said in a paper in June. (Source: Bloomberg)
Bloomberg
21-07-2025
- Business
- Bloomberg
Fed Should Not Cut Rates, Says DoubleLine's Sherman
Jeffrey Sherman, deputy chief investment officer at DoubeLine, says US Federal Reserve Chair Jerome Powell shouldn't cut rates today. He is on "Bloomberg ETF IQ." (Source: Bloomberg)
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First Post
18-07-2025
- Business
- First Post
Investors on edge as Trump keeps feud with Powell alive, fuels fears of Fed independence
With his attacks on Federal Reserve Chair Jerome Powell and plans to fire him, US President Donald Trump has rattled investors and undermined the independence of the US central bank. This could severe economic consequences nationally and globally. read more With his campaign against Federal Reserve Chair Jerome Powell, US President Donald Trump has rattled investors and triggered warnings from economists. Since the beginning of his second term, Trump has trashed Powell for not lowering interest rates to his liking. In recent days, he has signalled that he may soon fire Powell and replace him with a puppet who would do his bidding. He has reportedly shared the plan with loyalist Republican lawmakers. STORY CONTINUES BELOW THIS AD The independence of the Federal Reserve, and any central bank for that matter, is the foundation of a healthy economy. It ensures that the monetary policy prioritises long-term stability without pressure for short-term gains. It also ensures that the monetary policy is rooted in economic data and rationale and not in populist political compulsions — such as Trump's call to cut interest rates without caring about the action's effects on inflation. After the news of Trump wanting to fire Powell emerged, the US dollar lost 1.2 per cent on Wednesday against global peers. Even though Trump later said he was unlikely to fire Powell, the feeling that he will do it is something 'you can see it in the markets' and there is an increased chance that he will fire Powell anyway at some point, Bill Campbell, a portfolio manager at bond-focused asset manager DoubleLine, told Financial Times. Trump could reduce US to Turkey with war on Fed With his campaign against Powell, Trump risks reducing the United States to Turkey. President Recep Tayyip Erdogan of Turkey has frequently fired chiefs and other senior officials of the country's central bank over the past decade and pressured it to reduce interest rates as per his populist agenda. The result was that the inflation rose from around 8 per cent in early 2010s to 80 per cent at its peak. Currently, as a result of Erdogan's policy of killing the central bank's independence and setting the monetary policy at his populist whims and fancies, the inflation is at 35 per cent in Turkey and the country is at the risk of falling into stagflation — a dangerous condition in which inflation and recession coexist. STORY CONTINUES BELOW THIS AD Like Erdogan, Trump also wants the Fed to cut interest rates by up to 3 percentage points, but Powell has refrained from any cuts over fears that tariff-induced inflation could be worsened by any rate cuts. Last June, inflation rose in the United States at the highest pace since Trump assumed charge. The effects of Trump's assault on the Fed will be global as the US economy is linked with that of the world. 'Given that the US dollar is so dominant in the global economy, and it's a reserve currency, supplying a stable US dollar is a global public good. That's why what is going on in the US matters to the rest of the world,' Stefan Ingves, a former governor of the Riksbank, Sweden's central bank, told The New York Times. Moreover, as the United States serves as a role model for the world, threats to the Fed's independence could chip away at independence in other central banks, Katharine Neiss, an economist at PGIM Fixed Income, told The Times. STORY CONTINUES BELOW THIS AD As to how it affects the economy, Neiss said that the current 'environment of uncertainty' makes it hard to plan long-term investments and hurts economic growth and living standards as, in such an environment, 'we don't know what to trust, we don't know who to trust'.
