Bond investor Jeff Gundlach talks to CNBC about Fed's rate pause, Warsh reducing vote-setting meetings

DoubleLine founder Jeff Gundlach will appear on CNBC's "Closing Bell" Wednesday to react to the Federal Reserve's decision to leave interest rates unchanged at its October meeting. Fed Chairman Warsh also announced that one meeting in 2027 and two in 2028 of the scheduled eight gatherings for the central bank will be focused on monetary policy strategy, where no vote on altering the federal funds rate will take place. After the Fed's decision to hike rates by 25 basis points at its September meeting, Gundlach told CNBC that the central bank should have raised interest rates by even more. He argued that the bank should have raised rates by 50 basis points, rather than raise them gradually over various meetings. He added he was worried that the scale of the inflation picture in the U.S. — which remains above the annualized 2% target rate of the Fed — wasn't fully respected. Despite holding rates steady on Wednesday, there is still an 85% chance the Fed raises interest rates by 25 basis points at its December meeting, according to CME's FedWatch tool. In a statement announcing the decision Wednesday the bank said it will use further information to determine the correct policy to ensure a return to the Fed's inflation goal of 2%.