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DoubleLine's Jeffrey Gundlach says Federal Reserve has lost control

Aug 20 (Reuters) - The Federal Reserve has fallen behind the interest rate curve and has lost control, Jeffrey Gundlach, the chief executive of DoubleLine Capital, said on Tuesday, evidenced by the federal funds rate trading higher than any part of the U.S. Treasury yield curve.

"What else do you need to call it an inversion?" Gundlach said in a telephone interview. "Everyone is parsing all of these little arbitrary things. But we’ve got an inversion." (Reporting by Jennifer Ablan; editing by Jonathan Oatis)