Siegel: Layoffs Fueling Productivity and Pivoting Fed as Dimon Warns Against Rate Cut Bets
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Professor Jeremy Siegel says the era of "do nothing, the boss can't fire me" is over as workers face layoffs and ramp up productivity out of fear.
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Siegel believes the increased productivity behind the surprising Q3 GDP growth should make the Fed reconsider rate hikes.
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The November jobs report came in weaker than expected, which Siegel says delivers a "1-2 punch for lower rates."
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Siegel believes the Fed should start discussing rate cuts in 2023 and claims the narrative will pivot as pressures grow in the election year.
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JPMorgan CEO Jamie Dimon disagrees and warns against betting on rate cuts, saying the Fed may not be done with hikes yet.