Institution: The Fed Should Focus More on Core Inflation and Halt Its “Irrational Rate-Hiking Policy”

Jay Hartfield, CEO and Portfolio Manager at Infrastructure Capital Advisors, stated on November 3 that the Federal Reserve urgently needs to halt its “irrational rate-hiking policy” and instead anchor monetary policy on core inflation—not inflation driven by volatile oil prices. He emphasized that the Fed’s policies primarily impact interest-rate-sensitive sectors, with the housing market being especially vulnerable. Hartfield also called for fundamental reforms to the Fed’s forecasting models, its artificially set 2% inflation target, and its deeply flawed inflation metrics. Additionally, he revealed that Infrastructure Capital Advisors is closely monitoring research progress from the Fed’s related working groups, hoping their findings will meaningfully address these structural issues. (Jinshi)