Not even September's stubbornly high CPI report could change Jeremy Siegel's view that the Fed needs to stop hiking interest rates.
"If the Fed waits for the core to get down to 2% year-over-year, it will drive the economy into a depression," Siegel warned.
"If the Fed waits for the core [inflation] to get down to 2% year-over-year, it will drive the economy into a depression," Siegel told CNBC on Thursday.
Housing, which is almost 50% of the core rate, is the most distorted of all," Siegel explained.
Now they're over correcting with interest rate hikes as inflation is high, but is leading indicators show signs it is falling.