'Powell has to be on high alert': Wharton professor Jeremy Siegel says the Fed needs to consider rate cuts a lot sooner than the market thinks

• Wharton professor Jeremy Siegel said the Federal Reserve needs to consider interest rate cuts a lot sooner than expected.
• Inflation has been mostly tamed and the threat of an imminent recession is real, he told CNBC.
• "I think Jay Powell has to be on high alert because we did get some weak data," Siegel said.

Wharton professor Jeremy Siegel said Monday that the Federal Reserve needs to stay flexible and consider interest rate cuts a lot sooner than the market expects.

That's because there is a threat of an imminent recession following weak economic data, and inflation has for the most part been tamed.