Jeremy Siegel said a recession this year is not inevitable — but only if the Federal Reserve pivots soon. Speaking at the 2023 Land Investment Expo in Des Moines, the professor emeritus of finance at the University of Pennsylvania’s Wharton School of Business did not mince words: He believes many of the Federal Reserve’s actions since COVID-19 have been misguided.
Outlining his case, Siegel argued that, at various points post-pandemic, the Fed has been either too quick or too slow to respond to market changes, particularly regarding inflation.
“What the Fed has done is gone way too fast. Delayed way too long. And then, slammed on the brakes,” he said.
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Originally published on February 20, 2023.