Jeffrey Gundlach (Jeffrey Gundlach), CEO of DoubleLine Capital (DoubleLine Capital) and known as the “King of New Debt,” has continued to insist on his view since at least the end of last year that the world's largest economy is likely to experience a recession.

In an interview with the program, Gunlak was asked if he still thinks the US will experience a recession. He answered “of course,” even though he said “it's hard to say” whether this will happen this year. According to interview records, he confirmed the claim that a recession could come in 2024 or 2025.

Gunlak is an extremely influential figure in the financial market, but like many people, he is not accurate in predicting the exact timing of the recession. As early as September and November of last year, reports quoted him as saying that the US recession is likely to occur in the first half of this year. However, the US economy has so far been more resilient than expected.

The monthly rate of the leading indicator of the American Chamber of Commerce fell for the second month in a row on Friday, indicating that high inflation, high interest rates, and rising household debt will continue to put pressure on the US economy this year. Meanwhile, the manufacturing index released by the New York Federal Reserve on Wednesday weakened further in May and fell to -15.6. This is the sixth month in a row below zero, marking a deterioration in the US manufacturing situation.

In an interview, Gunlak said, “I think the data released in the past week is very worrying. A month ago, if you divided the economy into six or seven major sectors, all of these sectors were experiencing positive growth.”

He further said, “Suddenly, there are more sectors with negative growth than positive growth, and those positive growth are slowing down. As a result, I think all the lifestyle adjustments brought about by printing money have adapted people to a new standard of living, and they have decided that even if the government no longer issues checks, they are willing to use credit cards to maintain it. Now, those credit card bills are really starting to pile up.”

Earlier, he said that if the unemployment rate rises by another 0.3-0.4 percentage points, it will be worrying, and believes this will soon lead to a recession. Regarding the possibility of the US economy falling into stagflation, he agreed with Powell's view that the US economy showed no signs of stagnation.