New for subscribers: Wharton’s Jeremy Siegel sees Fed 'dot plot' shift toward tightening, expects stock decline. Check out CNBCPro today.
told CNBC on Wednesday he expects a shift in policy expectations from members of the Federal Open Market Committee when it releases its post-meeting statement later in the afternoon and he predicted the stock market could drop as a result.Siegel said he believes central bankers will move up their projections for when the Federal Reserve will adjust interest rates from their near-zero levels.
"In March, only four of the FOMC members expected a Fed funds increase next year. I believe that that's going to increase to a majority," the finance professor told CNBC.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Back-to-Back Rebukes of China Mark a Turning PointChina called the U.S. 'very sick' after G-7 leaders and NATO nations jointly criticized core Chinese policy under President Xi Jinping
Read more »
Stocks fall from records ahead of Fed decision on ratesU.S. stocks slipped from their record heights Tuesday as investors wait to hear whether the Federal Reserve will give any clue about when it may let up on its massive support for markets.
Read more »
AMC shares surge over 15% on #AMCDay as meme traders aim to push movie chain’s shares back above $60What is AMCDay? AMCDay appears to be a trend that was launched a month ago but was gaining traction on Monday. It was the third-most popular trend on Twitter on Monday, presumably helping give a fresh catalyst to the popular meme stock.
Read more »
A full rundown of what to expect from the Federal Reserve on WednesdayThe Fed is not expected to take any policy actions after its meeting this week, but it is likely to signal that it is thinking about them.
Read more »
S&P 500, Nasdaq seen adding slightly to records, as investors await retail sales and producer inflation reportsU.S. stocks are indicated to see muted moves Tuesday, with the S&P 500 and Nasdaq Composite inching toward further records, as investors await a report on...
Read more »
Producer prices climb 6.6% in May on annual basis, largest 12-month increase on recordRetail sales were expected to decline by 0.6% in May, while producer prices were estimated to rise by 0.5%, according to economists surveyed by Dow Jones.
Read more »