Investing icon Stanley Druckenmiller sits down with Joe Kernen at CNBC's Delivering Alpha

Stanley Druckenmiller, a veteran investor, discusses the Fed's monetary policy and its potential long-term consequences. Druckenmiller argues that the Fed's radical monetary policy, particularly post-vaccine QE and fiscal stimulus, was a gamble that has led to inflation and asset bubbles. He points out the risk-reward imbalance of trying to raise inflation from 1.7% to 2%, which he believes has negatively impacted the poor and middle class. Comparing the current economic landscape to periods like the 1960s and 70s, he suggests that the stock market may not see significant gains in the next decade. Druckenmiller also touches on the potential for a recession in 2023, exacerbated by the reversal of QE and the running down of the Strategic Petroleum Reserve, and sees a possible political shift emerging from a future crisis.