Economy

The biggest threat today is recession, not inflation

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I fear the U.S. Fed is 'slamming on the brakes way too hard,' says Wharton's Jeremy Siegel

The U.S. Federal Reserve has been raising rates too quickly, and recession risks will be “extremely” high if it continues to do so, said Jeremy Siegel, professor emeritus of finance at the Wharton School of the University of Pennsylvania.

“They should have started tightening much, much much earlier,” he told CNBC’s “Street Signs Asia” on Friday. “But now I fear that they’re slamming on the brakes way too hard.”

Siegel said he was one of the first to warn of the Fed’s “inflationary policies” in 2020 and 2021, but “the pendulum has swung too far in the other direction.”

“If they stay as tight as they say they will, continuing to hike rates through even the early part of next year, the risks…



Source cnbc.com

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