Steve Marcus/Reuters
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Jeremy Siegel slammed the Fed for fanning inflation, and warned it may spark an avoidable recession.
- The Wharton professor told Insider that he expects the Fed to cut interest rates later this year.
- Siegel explained why some wage inflation is desirable, and sounded the alarm on the US money supply.
Jeremy Siegel blames the Federal Reserve for the historic spike in inflation last year, and fears the US central bank will drag the economy into an unnecessary recession, he told Insider in an interview this week.
The retired Wharton finance professor also predicted the Fed will reverse course and start cutting interest rates before the end of this year.
The buck stops at the Fed
Inflation reared its head last year because the Fed and Treasury went overboard in shoring up the economy during the pandemic, Siegel said.