PANews reported on May 18th that, according to Jinshi, DoubleLine Capital CEO Gundlach stated that investors will not see an interest rate cut at the next Federal Reserve policy meeting. "People had expected two rate cuts this year, but the inflation market simply hasn't cooperated," Gundlach said. "In my view, when the two-year Treasury yield is nearly 50 basis points higher than the federal funds rate, a rate cut is simply impossible." Gundlach noted that Kevin Warsh, who was recently confirmed as Federal Reserve Chairman, took office during a "difficult time." Gundlach said, "DoubleLine's model indicates that the first digit of the next CPI index will be in the '4' range."