Fox Business guest: “If we don't have those Fed rate cuts, we'll almost certainly have a recession”
Jay Hatfield on Trump's tariffs: “It's really too much, too soon”
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From the April 3, 2025, edition of Fox Business' Mornings with Maria
JAY HATIFELD (CEO, INFRASTRUCTURE CAPITAL ADVISORS): Well, it's really too much, too soon. So we have a very tight Fed. This is recessionary. So everybody, all the pundits were wrong when they said it's inflationary, it's really recessionary, so it should have been paired with the tax cuts, we were talking about that earlier. But the reason why I don't think it's Armageddon, is you're almost certainly going to get three to four Fed rate cuts. That will be very positive. You can see that in the bond market. So there aren't fears about inflation, it's really recession as we expected and the Fed will respond and also I think the tax bill will have a bigger tax cut. It's just not going to happen right away.
MARIA BARTIROMO (ANCHOR): So you are -- we're already expecting no growth this year, right? So where are you in terms of the macroeconomic growth story as a result of all this and the ten-year right now sitting at 4.1%, off of the lows, by the way.
HATFIELD: So we were pretty concerned about growth already because of the tight Fed. We were one to two. We think this will take a full point off growth, so zero to one. But, if we don't have those Fed rate cuts, we'll almost certainly have a recession.