Here's exactly what the stock market wants from the Fed - and why it might not get it anytime soon, according to Wharton professor Jeremy Siegel
Wharton professor Jeremy Siegel highlighted exactly what the stock market wants from the Federal Reserve: interest rate cuts.just hiked interest rates for the 10th consecutive time last week
"The internal strength is there. First quarter [earnings] was good, the guidance was not terrible going forward," Siegel said in a Monday interview with CNBC. "If those three things happen, which I think are extremely low probability, then I think another quarter point [interest rate hike] might be on the table," he added.
"Here's the bar for them to lower [interest] rates. You gotta have a negative payroll. One or two negative payrolls. Don't forget we're getting into political season. If we get a negative payroll that's going to hit headlines... all you need is a couple of negative payrolls and a rise in the unemployment rate, and the political pressure [is] on the Fed," Siegel said.last week, with 253,000 jobs added to the economy.
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