Wharton professor Jeremy Siegel says the Fed risks sparking a disaster if it hikes rates higher than markets are expecting at its upcoming meeting
The Federal Reserve risks sparking an economic disaster if it hikes rates higher than markets are expecting at its upcoming meeting this week, according to Wharton Professor Jeremy Siegel.over the weekend, Siegel pointed to the Federal Open Market Committee meeting to take place from January 31-February 1, where Fed officials are expected to announce a 25 basis-point rate increase.
Central bankers hiked rates 425-basis-points last year to bring down inflation, but the central bank needs to ease up on those efforts as it risks"We have to get no more than 25-basis-points. 50 would be I think a disaster," Siegel warned.target, Siegel previously pointed that that figure may be overstated due to the way certain inputs like home prices lag behind the official statistics.
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