The Fed's economic outlook is off-base and despite remarks that suggest otherwise, there's no way that central bankers can lower inflation and stabilize the banking system at the same time, according to Wharton professor Jeremy Siegel.
After raising interest rates another 25 basis points on Wednesday, central bankers lowered their forecast on economic growth this year to 0.4% from a prior view of 0.5%.technical recession Fed officials were likely underestimating the impact of SVB's failure on financial conditions, Siegel said, as markets had originally expected officials to hike rates 50 basis points before the bank turmoil.
Source: Financial Digest (financialdigest.net)
The federalreserve really screwed up They (mistakenly) thought they'd get a couple of million unemployed to help reduce inflation What they did instead was break the US banking system All to fix a modest rate of inflation (5% to 6%), primarily caused by corporate price hikes
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