Howard Marks, co-founder of Oaktree Capital, criticized the Federal Reserve's 'activist' approach, suggesting that the U.S. hasn't had a free market in decades. He warned that a return to low-interest rates could lead to poor investment behaviors and inflate asset prices, potentially causing bubbles and exacerbating wealth inequality. Marks emphasized the problems of the easy-money era before the pandemic and the risk of economic overheating leading to inflation. His comments come amid expectations that the Fed may cut interest rates again, with recent minutes suggesting rates are at or near their peak.