Calls for the Fed to halt 'irrational rate hikes'... Focus on core inflation needed

Infrastructure Capital Advisors CEO Jay Hatfield on the 3rd urged the Federal Reserve to halt what he called an unreasonable rate-hike campaign, arguing monetary policy should target core inflation rather than price pressures driven by oil prices. Per BlockBeats, Hatfield said the Fed must recognize that its policy primarily affects rate-sensitive sectors of the economy rather than the broader economy, with the housing market the key vulnerability — fighting energy-driven inflation with higher rates risks piling the burden onto housing first. He also criticized the Fed's forecasting models, its arbitrary 2% inflation target, and other policy shortcomings. The call adds to mounting pressure on the Fed as it weighs whether to keep tightening amid energy-led price gains. Watch for upcoming core inflation readings and Fed commentary on whether officials distinguish oil-driven headline inflation from underlying price trends in setting future rate decisions.