Jay Hatfield discusses setting his 2025 SPX target for 7,000, on the assumption that corporate tax will be lowered to 18% – if it goes to 15%, he’s targeting 7,500. Another factor is the exit of Lina Khan as FTC head, which he thinks will usher in a merger and IPO boom. He has an optimistic outlook for inflation, saying the Feds are “terrible forecasters” for it. He disparages the Keynesian models the Fed uses and thinks there should be a reform for this “broken top to bottom” system.