Federal Reserve Accused of Being 'Completely Out to Lunch' Amid Looming Housing Recession

According to Jay Hatfield, CEO and CIO of Infrastructure Capital Advisors, the Federal Reserve is 'completely out to lunch' as a housing recession looms. In an interview, Hatfield emphasized that the Fed's actions are not addressing the root causes of the impending crisis.

Hatfield cited interest rates as a primary factor in the potential housing recession. He stated that the high interest rates, currently above 5%, are making it difficult for people to afford homes and mortgages.

The CEO also mentioned the impact of the AI boom on the U.S. economy, stating that it is adding to the economic uncertainty. However, he did not elaborate further on this point.