FUNDSTRAT'S MARK NEWTON SAYS THE FED HIKING RATES TO FIGHT OIL-DRIVEN INFLATION IS "PRETTY IRRESPONSIBLE." HE STILL EXPECTS A HIKE TOMORROW @MarkNewtonCMT told Evan @StockMKTNewz at Future Proof that markets have priced a hike at about 95%, and if Kevin Warsh doesn't deliver, "the markets would react quite negatively." But he thinks it's one and done, not the three hikes the curve has built in. "To think that you can take an economy which might be somewhat fragile, when the world is dealing with a tremendous debt problem, and think that we can hike our way out of this, I think is pretty irresponsible." "Crude being higher is a temporary type force. It's supply driven, it's not really a demand-driven event." His call: if Warsh hikes 25bps but isn't hawkish in the presser, bonds rally, yields pull back, and the S&P goes from 7,550 to 7,800 or 7,850 within a month.