Bond King Gundlach Warns Dollar’s Reserve Currency Status Depends on U.S. Controlling Spending

“Bond king” Jeffrey Gundlach of DoubleLine Capital warns that the U.S. risks losing its status as the world’s reserve currency if it doesn’t rein in its spending. With rising interest rates and a national debt of $33.59 trillion, Gundlach stresses the situation will deteriorate if the Federal Reserve persists with rate hikes and the debt continues to soar.