Posted 12/5/2023, 11:58:00 AM
Wharton's Siegel: Fed Risks Derailing Stock Market with Strict Inflation Stance
- The stock market is near all-time highs, but Wharton's Jeremy Siegel warns the Fed's inflation fixation could derail further gains
- Siegel believes the Dow could reach new records in coming months if the Fed shows flexibility on 2% inflation target
- Fed Chair Powell has signaled some openness to moderating rate hikes as economy slows
- Analysts predict rate cuts could come in 2024, but Siegel says it depends on incoming data
- Siegel cautions that upcoming Fed forecasts may seem hawkish, but their record has been inconsistent