The Fed is on the verge of a policy error but that won't stop stocks from smashing record highs this year. I sat down with veteran investor @JDHatfield_ICAP to unpack his Street-high S&P 500 target and the Fed's fatal flaw and dirty data, the 4 stocks he likes most through 2027, and why he's leaning into covered calls with his new fund. Jay has spent decades picking stocks and managing money on Wall Street and he has a non-consensus view of the central bank. This conversation will make you think critically. TIMESTAMPS: 0:00 - New S&P 500 target 4:39 - What would break the bull case 5:36 - Core inflation falling 8:31 - Why Fed officials want hikes 11:36 - Kevin Warsh herding the cats 16:06 - Catalysts to fix the Fed 20:32 - $MRVL 23:20 - $KKR 26:07 - Capex debate 29:01 - $LMT 30:43 - Covered-call fund 33:37 - Beating the NASDAQ