The Fed's like a 'reformed smoker', Stanley Druckenmiller says, while Jeff Gundlach warns it's driving the US into a dumpster. 6 market experts talk straight about rate hikes.

A surprisingly hot US inflation number has galvanized Wall Street into taking stock of the Federal Reserve's efforts to cool it

The inflation shock last week has solidified the view that the Fed will raise interest rates by at least 75 basis points next week.

The Fed pays too much attention to inflation data releases because they don't reflect what's happening at the time.

If policymakers ran the risk of overtightening at a time when the economy needed some relief, it would hit the stock market hard.

Here are the opinions of six straight-talking investors and Fed watchers about the interest rate campaign.

This is the first thing. The Fed's sudden shift after years of easy money signals a gloomy outlook for stocks.

They are like reformed smokers now. He said that they went from printing a lot of money to just slamming the brakes.

The billionaire investor thinks that the market will be flat for the next 10 years.

There are two The Fed is on the verge of going too far.

The Fed doesn't do anything but follow the 2-year Treasury yield. They are catching up to the Fed Funds rate, according to the DoubleLine CEO.

"Unfortunately, looks like the Fed is going to tighten up," Gundlach said.

The Fed is getting aggressive to the point that they oversteer the economy into the dumpster.

There are three. There will be a US recession and a housing crash if the Fed raises its rates too much.

"If the Fed keeps this up, there will be a serious recession and people will lose their jobs," said billionaire real-estate investor Sternlicht.

He said that you will see cracks everywhere.

The Fed is attacking the economy with a sledge hammer.

There are four. Zero interest rates have hurt the economy and now we need to return to normal.

Disneyland has destroyed the economic structure over the last fifteen years. Think about it: no interest rates.

Zero interest rates are hurting the economy. Hedge funds that should not exist, but have existed for 15 years, are created by you.

We have to return to normal economic life. There was a time when an investment had to earn cash flow in order to be considered a discount rate.

There are five. The Fed's hikes could cause an asset slump and cause the economy to go into a recession.

"If the Fed's going to try to bring inflation down, they're going to bring inflation down very quickly, but it's also going to cause devastation," he said.

The controlled burn can turn into a wildfire.

The real risk is that one. The type of losses that this can turn into is what investors need to think about. The Fed isn't able to stop it.

Deficiency should be more of a concern for us. People don't think about that risk. We will be in a deflationary spiral if the Fed bubbles.

There are six. The economy should be given a break from hikes by the Fed.

"I would be pausing and looking at the tightening that has already been put into the system," he said. The economy is flat on its back at the moment.

They're raising rates and reducing the size of the balance sheet in a rather dramatic way. If we're not already in a recession, that will cause it.