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Gundlach says Yellen's speech suggests an accommodative Fed for longer

NEW YORK Oct 14 Federal Reserve Chair Janet Yellen's speech on Friday on running a "high pressure" economy with a tight labor market to reverse some of the negative effects of the Great Recession suggests a U.S. central bank that will stay accommodative for longer, said Jeffrey Gundlach, chief executive of DoubleLine Capital.

"I didn't hear, 'We are going to tighten in December,'" Gundlach said in a telephone interview. "I think she is concerned about the trend of economic growth. GDP is not doing what they want." (Reporting by Jennifer Ablan; Editing by Leslie Adler)

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