Wharton professor Jeremy Siegel says the Fed is making another mistake by raising interest rates and tightening monetary policy too aggressively. Siegel said the central bank is making working- and middle-class Americans pay with what he expects will be a punishing recession. The longtime market guru and frequent guest on CNBC unleashed a memorable rant on Friday as U.S. stocks plunged. “I think we’re giving Powell too much praise. … The last two years are one of the biggest policy mistakes in the 110-year history of the Fed by staying so easy when everything was booming.” Siegel: “They are making exactly the same mistake on the other side that they made a year ago’s making exactly.” . . .
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