Professor Segal appeared on CNBC on the 23rd (local time) and said this. “Until a year ago, the Fed said ‘there is no inflationary pressure’ even when commodity prices rise,” said Professor Segal. Now that commodity prices are falling, they say, ‘I’ll raise interest rates until inflation goes away’. Chairman Powell says the exact opposite.”
ICYMI: Wharton Professor Jeremy Siegel fired @HalftimeReport for the Fed. We’re going to break it all down on Overtime. Tune in at 4pm ET! pic.twitter.com/ONe0cqDwcy
— CNBCOvertime (@CNBCOvertime) September 23, 2022
Professor Siegel said the Fed was “too tight” and noted that the Fed’s efforts to raise the unemployment rate were also a problem.
Professor Siegel said, “It’s not that workers raise prices with wages. “The workers just followed suit,” he said. It is a criticism of why the inflation and policy failures are to be attributed to the workers.
In response to Professor Segal’s impassioned criticism of the Fed, CNBC’s Twitter account has been flooded with supportive tweets.
“Fed policy of the last three years should be erased from the history books.”
“Professor Segal was angry.”
“I don’t think the market will bottom out until Chairman Powell and Professor Segal fight.”
Professor Segal is one of Wall Street’s leading ‘guru’, who wrote many best sellers on stock investing in exchange for his financial investment theory.
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good article to see
The US economy could be in the process of entering a ‘new normal’ after the pandemic – Powell
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