The Fed will cease hiking interest rates if the labor market falters, Wharton professor Jeremy Siegel says
The Federal Reserve has inflation on the ropes, and will finally halt its aggressive interest-rate hiking cycle if the labor market begins losing momentum, according to Wharton professor Jeremy Siegel.
"We're going into political season. They have to be sensitive to what's going on in employment. If we begin to see any faltering on that labor market, they are going to give up their rate hikes," Siegel toldThe most important economic data coming out this week will be the US weekly jobless claims report on Thursday, which publishes the previous week's initial claims for state unemployment benefits, Siegel said.
While investors expect the US central bank to halt its interest-rate hikes during its June 13-14 meeting, the market is still pricing in a quarter-point raise for July — and Siegel thinks that will lift rates too high.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US house price outlook: Jeremy Siegel, Jeff Greene, Barbara CorcoranWall Street is divided on the outlook for US house prices. Here's what 6 experts have recently said.
Read more »
Fed set to pause rate hikes, but real pain may lie aheadThe prospect of continued high rates could shake public confidence by triggering the demise of more banks or other vulnerable businesses as time goes on.
Read more »
Prepare for stocks to slump as more Fed hikes are likely: Wells FargoPrepare for a slump in US stocks as the Fed continues its battle against sticky inflation, Wells Fargo's top strategist says
Read more »
U.S. stocks extend rally; investors bet Fed will pause rate hikesU.S. stocks rallied on Monday, putting the S&P 500 within striking distance of its highest close since April 2022, and Oracle hit a record high ahead of quarterly results as investors awaited inflation data and the Federal Reserve's interest rate decision this week.
Read more »
Economist Peter Schiff Says the Fed Destroyed US Banking System — 'It's Insolvent' – Economics Bitcoin NewsPeterSchiff says the FederalReserve destroyed the U.S. bankingsystem, reiterating his warning of a much bigger collapse than 2008.
Read more »
Oil prices likely to fall If Fed announces a surprise hike this weekThe lack of a major rally in the price of oil was an assault on Saudi Arabia’s push to...
Read more »