Jeffrey Gundlach(@TruthGundlach):The Fed dual mandate is shifting. Used to be “low inflation and full employment”. The latter is now taken as a given in Fed comments. Dual mandate will shift to “low inflation and interest expense management”, though the two of them will always be in tension.

Jeffrey Gundlach

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Jeffrey Gundlach@TruthGundlach

2026.09.26 00:51

The Fed dual mandate is shifting. Used to be “low inflation and full employment”. The latter is now taken as a given in Fed comments. Dual mandate will shift to “low inflation and interest expense management”, though the two of them will always be in tension.