With Donald Trump set to reveal, Apprentice-style, on Thursday who the new chair of the Federal Reserve will be, TCW's Bryan Whalen warns that a regime change at the central bank could catch out some investors.
In an interview with Citywire USA Whalen explains how there is a generation of investors raised on easy money from the Fed who might be in for shock as the central bank moves away from this policy.
Whalen, who is a manager on the $80 billion Met West Total Return Bond fund, among others, predicts volatility will break out of its stubborn lows before the year-end, with changes at the Fed a possible catalyst.