DoubleLine’s Gundlach expects Fed rate cuts in first half of 2024

"The Fed wants the economy to slow quickly and rates to go down," Gundlach told CNBC in an interview on Tuesday, adding that the U.S. economy has enough weakness for the Federal Reserve to consider being done with the rate hikes. Gundlach said the U.S. core personal consumption expenditures (PCE) needs to fall below 4% for the Fed to push brakes on the rate-hiking cycle.