Wharton professor Jeremy Siegel has a big issue with the Federal Reserve's aggressive interest rate hikes in its bid to tame inflation, and worries that the central bank is making the biggest mistake in its history and may provoke a steep recession.
That's because, according to Siegel, inflation is starting to come down significantly and the Fed is still moving forward with its rate hikes.
The last two years [are] one of the biggest policy mistakes in the 110-year history of the Fed, by staying so easy when everything was booming," Siegel said.
Siegel expects the overly tight actions from the Fed will continue to weigh on stock prices, and if tightening actions from the Fed continue through 2023, "you can make sure that there's a major recession on the other side," Siegel said
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