The Fed is taking on risk they don't have to take, says Wharton's Jeremy Siegel

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Jeremy Siegel, professor emeritus of finance at University of Pennsylvania’s Wharton School of Business and Wisdom Tree chief economist, joins 'Squawk Box' to discuss the Fed's inflation fight, state of the economy, what to expect from Fed Chair Powell at the Jackson Hole symposium, rate path outlook, and more.
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Stability is a result of our economy's struggles with uncertainty, housing issues, foreclosures, global volatility, and the pandemic's consequences. To restore stability and promote growth, all sectors must respond quickly to concerns about growing inflation, slow growth, and trade Disruptions.

roddywoods
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What are the best strategies to protect my portfolio? I've heard that a downturn will devastate the financial market, so I'm concerned about my $200k stock portfolio.,

SirBenedict-pu
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Well, I feel investors should be focusing on under-the-radar stocks, and considering the current rollercoaster nature of the stock market, Because 35% of my $270k portfolio comprises plummeting stocks that were once revered and I don't know where to go here out of devastation.

nicolette-ty
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For the past 2 years Seigel talks like he's overleveraged on equities.

smashedcapper
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The most over leveraged professor in America

rh
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💡 if the fed cuts interest rates, this will create more inflation because people love spending. Jeremy is trolling right now.

mrcmid
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Can someone explain to me why this guy is saying the economy is in good shape? 70% of Americans disagree with that and the numbers do not back up his claims.

paytonhall
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stop bringing this guy on. he freaks out over everything

StarryRockz
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I act as if I dont understand anything while my bank account poured in with cash deposits 😂😂

Dptl
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This guy asking a joke of a question... why is it restrictive??? Because inflation would be double.

FINGA
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No rate cuts!! Rate cuts are not in the best interests of the people. Rates are not too high where they are, prices are too high. Any cut now is WAY too soon. I believe rates should never fall below 5% in a properly managed economy, and never below inflation as has been the case in recent years. Consumers and the economy need more than just a slowing of inflation. We need deflation to bring prices down to reasonable levels so all Americans can better participate in the economy, and we need these and higher rates to help retired people especially earn income without having to risk in the markets. Sustaining economic activity right now should not be the primary concern. We should stop rash moves to bail out the rich and do what is right for most of us long-term. We need a recession, and we need to let deflation do and finish its work. There is no good long-term reason to lower rates better than leaving them where they are. They are where they should be in a healthy economy. The economy is struggling at these "normal" rates because the economy is sick, grossly mismanaged, and needs a flushing out of people who have caused these problems. Lower rates mostly serve Wall Street and the rich. Lower rates generally won't help people buying a home because the realtors and home builders will raise the price of homes in response to the lower rates. They will sell it for as much as they can trying to max out the payment that you can make! Lower rates won't benefit most Americans. Lower rates mean higher prices for everything bought on time immediately, and more inflation on everything else long-term. Housing and other big-ticket items like cars are too high already because of rates being way too low for too long and mostly only benefiting one out of ten people, and inflationary government spending. Prices need to come DOWN not go further up. We need a massive reset in the economy along with common sense policy and culture changes! We need to go back to the policies and culture that WORKED! We need massive cuts on government spending and an end to wasting Americans dollar resources, and we need NO MORE BAILOUTS of poorly run companies. Bribes and collusion among government and the rich which is abusing America's dollar resources must be stopped. No more destructive uses of our resources and NO rates cuts. The markets and the economy need a major readjustment that only deflation and reduced spending can bring about! Inflation and a wildly over-spending government that has to then pay interest on the debt will destroy the dollar! Eventually inflation will rise so high that the government will ADMIT it is higher that it has been saying it is and that it can’t pay an interest rate above the real inflation on its notes WITHOUT printing more money, and then we will be finally heading into a crisis that will bring on severe poverty. Inflation, overspending, debt, corruption, and moral decline are the real threats to our economic livelihoods. The Fed SHOULD NOT take its foot off the neck of inflation by lowering the rates. Rather than lowering rates the government should start lowering spending into a range it can support WITHOUT printing more money!

stephenbush
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The 2.8% long-term fed rate is hardly set in stone, rather a guesstimate and a questionable one at that.

aroundandround
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Don’t get upset over Guy from fast money Professor. He can be loud.

MatthewMS.
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My opinion US job market in manufacturing has been very poor. I have not worked for past 12 years since Boeing moved out of town and I lost my job. My friend who worked a famous company working on hypersonic weapons lost his job and never found a job.

Jobs have gone mostly overseas. Yes we have a service sector jobs, but most don't pay much except healthcare.

They put trillions in this economy and literally got nothing out of it.

For example the US govt spends 10 dollars and gets 2 dollars worth of output. This kind of spending and output does not produce real GDP.

In fact if you subtract inflation GDP should be negative as I understand.

Lot of talk of AI. But AI just got started. AI in full force will wipe away many jobs.

Let's say you want to design a car part . Ai could eliminate all designers and Engineers jobs.

There was AI program google I asked to generate computer instructions to do Random Analyis say turbulence input to a typical commercial plane like Boeing plane. It generated all the cards for me.

That is some serious stuff. I believe 90 percent of high tech jobs will dissappear due to AI.

Most will be on Universal pay.

Everything looks grim to me except to real rich people.

manaoharsam
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OMG, can you imagine if this guy was the FOMC chair. Argentina would be a case study in how to keep inflation low compared to what this guy would do to the US economy.

KungPowEnterFist
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Inflation is almost a percent higher than the 30 year average and unemployment 1% lower than the 30 year average. We are not near balance yet

mattwalter
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Close the border of weakening job market for heavens sake 😮

mombee
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Why is this professor still on the air?

swedesam
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Why does this man get ANY air-time at all? Nothing he has said ever made any sense. Two weeks ago he was screaming for an "emergency" rate cut LOL.

deepaksubramony
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We don't wanna see this professor any more. Isn't he the professor who started crying and begging FED to cut 75bp immediately followed by another 75bp in Sep meeting when the stock market fell 3% following a 35% rally in last 9 months? Come on dude, grow up, you invest in stocks means there are red days, you can't ask FED to bail you out in every 3% drop. Because of people like him middle class have been getting crushed under high inflation while asset holders, stock holders have their assets inflate much faster than inflation. Inflation is only good for asset holders not for paycheck earners

sumitomoOO