Jeff Gundlach says the Fed should have hiked rates by more to fight rising inflation

The Federal Reserve should have hiked rates by more on Wednesday instead of a just a quarter point , according to Jeff Gundlach , founder of DoubleLine. "I would have called that stun and done," Gundlach said Wednesday on CNBC's "Closing Bell," a play on the term "one and done" referring to the belief by some that the Fed may only do one or two hikes instead of embarking on a tightening cycle. Gundlach, one of the most prominent bond investors, said a half-point hike would have provided the market with a "truing up" to the Fed funds rates. The 2-year Treasury rate was more than 100 basis points above the Fed funds rate, according to Gundlach. The yield on the 2-year U.S.