Wharton professor Jeremy Siegel warms up to the Fed after giving it a D grade in its inflation fight – and doesn't see the US slumping into recession this year
"There is amazing resilience," Siegel said."I see a lot of resilience and my call for recession probability has definitely gone down over the last two months," he continued."I would say its 2-1 against the recession at least for the rest of 2023 and early 2024," Siegel said.
As"the fight of inflation is going extremely well," the"Stocks for the Long Run" author added that further rate hikes by the Fed are not necessary. No doubt there is a slowdown in the economy with recent employment numbers coming in below economists expectations, Siegel said. Should signs of a slowdown in consumer spending become apparent to the Fed, they will need to stop raising rates, or even start cutting them even though there is some inflation in the US economy.
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