Gundlach: Fed rate hike 'increasingly likely' one and done

Jeffrey Gundlach, the widely followed investor who runs DoubleLine Capital, said on a webcast on Tuesday that the Federal Reserve's rate hike cycle "increasingly likely" looks like a one and done scenario this year. Gundlach, who oversees $95 billion for Los Angeles-based DoubleLine, said the Fed should be cautious with raising rates because of the "gentle downward" trajectory in nominal gross domestic product. The U.S. economy is growing at a pace below 1 percent in the first quarter, according