Wharton Professor Jeremy Siegel Urges Fed to Consider Significant Rate Cuts to Prevent Economic Recession

On September 18, COINOTAG reported that Jeremy Siegel, a prominent professor at Wharton School of Business often regarded as the “Godfather of the Stock Market”, emphasized the need for the Federal Reserve to contemplate a substantial interest rate cut to circumvent the looming risk of an economic recession. Siegel argued that prevailing economic models indicate Federal Reserve Chairman Jerome Powell should prioritize selecting a federal funds rate that aligns optimally with current economic conditions, as opposed to concentrating on the velocity at which rates are reduced from highly restrictive levels.