Even as higher bond yields rattle equity markets, the U.S. economy remains strong overall, said economist and Wharton professor Jeremy Siegel.
"I think this economy is cooking," Siegel told CNBC's " Squawk on the Street " on Monday.
"I know economic surprises, some of them have been negative but on the whole, we have a strong economy."
Siegel added that higher bond yields have been pressuring the equity market, and investors now view them differently in an inflationary environment.
He also pointed out that the latest jobless claims data, which showed initial claims of 204,000 for the week ending Sept. 23, still suggests strength in the economy.
Persons:
Jeremy Siegel, Siegel, CNBC's, Freddie Mac, That's, — CNBC's Gina Francolla
Organizations:
Treasury, Federal Reserve
Locations:
U.S