Jeffrey Gundlach: Worry the inflation problem isn't being fully respected

• Gundlach believes the Fed's press conference lacked content and that the 25 bps hike was insufficient; he would have preferred a 50 bps hike.
• He argues 'true inflation' (import/export prices) is at 7.8%, significantly higher than core PCE at 3.3%, which is also trending higher.
• He expresses concern about inflation psychology, citing examples like Costco doubling motor oil prices and rationing, indicating potential hoarding behavior.

Jeffrey Gundlach criticizes the Fed's latest decision, stating the press conference was 'devoid of content' and that he would have preferred a 50 basis point hike to 'stun and done' inflation. He highlights that 'true inflation' (import/export prices at 7.8%) and core PCE (3.3%) are still too high and trending higher, expressing concern that the inflation problem is not being fully respected.