Gundlach Warns of Impending Recession, Questions Unemployment Data

Billionaire investor recommends holding cash, urges Federal Reserve to cut interest rates amid overvalued stocks and rising state unemployment.

Billionaire investor Jeffrey Gundlach warns of an impending recession, citing overvalued stocks, an inverted yield curve, and negative leading economic indicators.
Gundlach questions the accuracy of national unemployment data as a majority of U.S. states report rising unemployment.
He recommends holding cash over investing in the current market, suggesting that better opportunities may arise post-recession.
Gundlach urges the Federal Reserve to cut interest rates after they were raised from virtually zero to over 5%.
He also expresses concern over the surge in tech stocks, specifically Nvidia Corp., which has reached a market capitalization of $1.5 trillion.