REUTERS/Brendan McDermid
And for months, the Fed and Chair Janet Yellen have signaled explicitly that a rate hike would come soon. This has some leading economists forecasting that an initial rate hike will be announced at the Fed's September 16-17 Federal Open Market Committee (FOMC) meeting.
However, DoubleLine Funds' Jeffrey Gundlach thinks that a rate hike now would be hasty.
"Look at the charts," Gundlach said. "Dammit, Janet, don't raise rates!"
As he's been predicting for quite a while, Gundlach believes the Fed is more inclined to hike later than sooner.
During a webcast on Tuesday, Gundlach shared a slew of market and economic stats and trends that would argue against a rate hike in September or any time this year.