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jeremy siegel
Jeremy Siegel.

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  • Fed officials are "monomaniacal" and "misguided" in cooling off the economy, Jeremy Siegel said.
  • He told CNBC there was no need for the Fed to be so concerned about rising wages and inflation.
  • Siegel has been critical of Fed policy in the past, and previously said it risked a US recession.

The Fed is overly focused on its efforts to soften the labor market, and central bankers are making a major mistake about inflation, according to Wharton professor Jeremy Siegel.

"I think the Fed policy is very misguided," he told CNBC on Thursday, referring to the central bank's aggressive rate hikes over the last year to rein in inflation.

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Markets, MI Exclusive, Jeremy Siegel, Wharton professor Jeremy Siegel, economy, US economic outlook, Unemployment, Inflation, fed inflation, fed interest rates, Fed rate hikes, interest rate outlook, 2023 inflation outlook, falling inflation, Housing Prices
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The Fed is 'monomaniacal' about raising unemployment and is making a mistake wi…