"That's not going to cure the situation, but I think that they should be proactive in this case. I disagree with those that say 'oh, it's only a supply chain problem,'" Jeremy Siegel said on "Closing Bell."
"That's not going to cure the situation, but I think that they should be proactive in this case. I disagree with those that say 'oh, it's only a supply chain problem,'" Siegel said on "Dow Jones Industrial AverageThe sharp decline in stock prices has led to rising pressure on the Fed to cut interest rates. The futures markets shows that traders have priced in, despite Fed officials saying it is too early to make policy decisions due to the epidemic.
"We're really washing out all those momentum players, which is ultimately healthy for the market. That's part of the reason for going down. And certainly the rest of it is fear for what's going to happen to this year's earnings," Siegel said on Thursday.
'Yes, there is some supply chain problem from China, but it is a fear problem,' Siegel continued. 'And people are stopping doing things, stopping traveling, stopping going on, and this can just snowball. Our economy is dependent on that. 1/2
Mr. Siegel might also be angling to become the U.S. Federal Reserve's next chairman, by suggesting a rate cut to counter the 'snowballing' economic effects of Coronavirus.
BitcoinTina If virality and the fragility of the stonk markets scare you, you should check out bitcoin
umm.negative rates can only do so much at this point as evident by the euro zone and Japan.They account for 87% of the negative rates worldwide. Europe is essentially in recession with negative GDP. Japan is not doing much better and the banking system is even worse than Europe’s
Wait, wouldn’t that be ...... socialism? God forbid! Free markets, amirite?
I agree!
and what is a rate cut really going to do to the underlying issue ? sure it'll help short-term...but
Little room to move the fed is already pumping in billions to keep the stock market from crashing... unprecedented manipulation. The economy is heading for an epic crash and all the training wheels are off. This is going to be bad!
Until the next drama.....then cut some more.
You cannot cut a biological phenomena through a financial measurement, this is a different ballgame alltogether...
When will you pigs understand that cutting rates doesn’t cure Jack shit and does NOTHING for Joe Public, just for Wall Street suits. Absolutely disgusting
What nonsense. Since the Fed created this bubble they should deal with it but not this way.
Cut them to what? Zero?
Just a little drop, now people want rate cut
Stop complaining and buy the dip lol
Siegel is the worst! Market turd...
Wasn't he on two weeks ago saying all was fine
We have to go negative on rates that way we can pay interest to banks for holding our money! That will force everybody into the market and we will see new record highs!
Yer damn right
Will have no effect money is not the problem life is☠️☠️☠️
Lol
one whiff of inflation and it's over
.... because lower rates will cure the virus.. sigh
Explain to me how cutting rates will help? Please. I will wait. Thanks.
With the strength of the economy why would you want to lower already crazy low rates?
A rate cut won’t help disrupted supply chains one iota.
Professor for me cuts in rates not the key. This is fear of the unknown. Fear of going out to the movies, malls, restaurants, car dealers. Fear of anyplace an unknown person touched something right before I might. The govt & fed needs to set up small biz loan pools as backstop
American President was right, Fed should never have raised the cash rate to begin with but, I understand they wanted a buffer which isn't a bad thing either.
No worries. MoronInChief fixed it. Very legit. The most legit tweet ever.
The guy who predicted a crash if Trump got elected Sad that Wharton allows him to trade off their name 😢
They’ve already cut rates during a good economy to artificially increase the stock market. There are consequences to poor fiscal management. There simply is not a check to Wall Street greed.
Poor buggers are addicted to fed easing.
It’s a good thing we have *checks notes* 1.5% worth of cuts before we go negative
He’s wrong
Omg dont do it
Great idea, with inflation above 2% let's speed up the cost of living, while people are already strapped. Smh
Siegel is a hack.
Cut rates - Cut rates ..... “If the only tool you have is a hammer......”
So what?
Why will rate cuts help?
US has a very dumb Federal Reserve unfortunately. PBOC is on top of things. Chinese stock markets are doing relatively well.
anyway, FED will cut rate this week. if not, financial crisis will be given
Stocks are back to December levels... better cut rates lol
Let it snowball so I could buy some shares cheap. Sell, sell, sell.
Let's cut rate to sub zero level and have next to nothing returns on pension funds
what happens after all the 1.75% cut.
You don’t know that federalreserve knows how to cure pandemics?
Lol. “Help me mommy!!!!”
Guy is way too smart to think that fed should cut rates every time market hits speed bump
You cannot be serious that this guy is a Nobel prize winner!. What is the rate cut going to do to cure the virus?
Yea like feds gon listen to some professor.
Economy cannot live on Fed alone...
I'm not sure America can afford to take anymore advice from someone who went to Wharton!
U guys. Don’t even talk about the human element ( people dying ) with this virus. It’s sad.
Cutting rates from this level isn’t going to do anything.
This guy is clueless
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