Yesterday, DoubleLine’s Jeff Gundlach, who correctly predicted the election of Donald Trump, unveiled a new surprise forecast: Neel Kashkari would be the next chairman of the Federal Reserve. Speaking Tuesday at a Vanity Fair summit in Los Angeles, Gundlach said Kashkari, president of the Minneapolis Fed, was a strong advocate of easy money. He was envisioning Kashkari’s latest essay from Monday, in which the former Goldmanite uber dove, who was instrumental in putting together the TARP bank rescue package, said the Fed shouldn’t raise interest rates again until inflation hits 2% or there’s a large drop in unemployment.
“I actually have a very non-consensus point of view. I think it’s going to be Neel Kashkari,” Gundlach said, adding that “he happens to be the most easy money guy that’s in the Federal Reserve system today and that’s why he may win.”
‘There’s no chance the president wants Janet Yellen to continue” as Fed chair Gundlach also said and predicted that Gary Cohn, Trump’s chief economic advisor, would not get the nod, due to his background as president of Goldman Sachs.
This post was published at Zero Hedge on Oct 4, 2017.