Wharton business school professor Jeremy Siegel believes the recent stock sell-off on Wall Street was a healthy correction after the Federal Reserve's cautious projection on future rate cuts provided investors with a reality check. Siegel stated that the market had become overly optimistic, expecting significantly lower interest rates than the Fed now projects. He anticipates the Fed will likely reduce rates only once or twice next year, with a possibility of no cuts at all, given the upward revision in their inflation forecast.
Wharton business school professor Jeremy Siegel said the stock sell-off on Wall Street was healthy, as the Federal Reserve 's cautionary projection gives investors a"reality check."
"The market in almost a runaway situation... and this brought them to reality that we are just not going to get as low interest rates" as investors were betting on when the Fed started its easing cycle, Siegel told CNBC's"
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