Brendan McDermid/ReutersBrendan McDermid/ Reuters

Billionaire “bond king” Jeffrey Gundlach expects the stock market to fall from its “lofty” perch as he warn against corporate credit downgrades and a rise in white-collar layoffs on Tuesday. Gundlach said merchants remember the Federal Reserve chairman Jerome Powell is “Superman, ” and he is expected to keep the fed money rates at zero for the next two years. His notes came ahead of a much-anticipated key policy meeting on Wednesday that will determine future guidance, justify primary street lending facilities, and is expected to touch upon the US complains. “I certainly do expect that Jay Powell would follow through on controlling the yield curve should the 30 -year rate actually get unhinged, ” Gundlach said. Visit Business Insider’s homepage for more tales.

The stock market is likely to fall from its “lofty” perch alongside ripples of corporate credit downgrades and white-collar unemployment, Jeffrey Gundlach, founder and chief executive of DoubleLine Capital, said in a webcast on Tuesday.

Describing the market as overinflated, he said he guesses the market falling is a “pretty good bet.”See the rest of the narrative at Business Insider

NOW WATCH: Tax Day is now July 15 — this is what it’s like to do your own taxes for the very first time

See Also 😛 TAGENDFriday’s May undertakings report surprised economists. It could be a sign that the government’s program to rescue small and medium-sized businesses is paying offJeremy Grantham, the famed investor who called the past 3 bubbles, says investors should be nervous about recent sell moves — and warns of ‘deep economic wounds’ regardless of a vaccine‘The ECB action was strong, but when Lagarde went into the details investors lost their excitement’: Here’s what psychoanalysts are saying about the ECB’s $ 1.53 trillion rescue package

SEE ALSO: The US shale oil industry could collapse unless oil prices bounce back soon, a think-tank warns

Read more: