ML-Implode News - Gundlach says April rate hike 'inconceivable' after lower GDP forecasts

"With GDPNow just slashed to 0.6 percent, an April rate hike should be inconceivable," said Gundlach, who oversees $93 billion at Los Angeles-based DoubleLine Capital. "What would last week's 'faction of five' say now?" Gundlach was referring to the hawkish tone on interest rates by Atlanta Fed President Dennis Lockhart, St. Louis Fed President James Bullard, San Francisco Fed President John Williams, Federal Reserve Bank of Richmond President Jeffrey Lacker and Federal Reserve Bank of Philadelphia President Patrick Harker.
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The Federal Reserve Bank of Atlanta's GDPNow model on Monday predicted growth at a 0.6 percent pace in the first quarter, marked down from an earlier estimate of 1.4 percent. And forecasting firm Macroeconomic Advisers estimated GDP growth at a 1 percent pace in the first three months of 2016, down from an earlier prediction of 1.5 percent.

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Gundlach says April rate hike 'inconceivable' after lower GDP forecasts