Wharton Professor Jeremy Siegel says stocks could jump 15% this year as long as the Fed cuts rates quickly

• Stocks could soar 15% or more this year as long as the Fed cuts rate quickly, Jeremy Siegel said.
• The top economist has warned of the dangers of keeping interest rates too high.
• Inflation is already on the downtrend, Siegel argued, pointing to lags in the economic data.

Stocks could jump 15% or higher – so long as the Fed cuts interest rates quickly later this year, according to Wharton Professor Jeremy Siegel.

"I would see a meaningful gain in the stock market, I think if I saw that the Fed would respond to the downside as rigorously as responded to the upside," the top economist said in an interview with CNBC on Wednesday, referring to the central bank's aggressive interest rate hikes over the past year to combat inflation.