'Wizard of Wharton' predicts stocks will hit record highs - and sees only a 30% chance of recession

• Jeremy Siegel expects stocks to hit fresh highs, and sees only a 30% chance of a recession.
• The "Wizard of Wharton" says the Fed may be done with hiking rates, and might cut them if needed.
• The retired professor views the strong US economy as positive for stocks and company profits.

Stocks are headed to new highs, and the risk of a recession has plunged to about 30%, Jeremy Siegel says.