Wharton School Professor Jeremy Siegel no longer thinks it's vital for the Federal Reserve to implement an emergency interest rate reduction, but still wants policymakers to cut quickly and aggressively.
"Obviously, I wanted to shake things up," Siegel said of his call for an intermeeting move.
However, those expectations have been volatile as investors watch how quickly the Fed thinks it should ease policy.
An emergency cut under these circumstances is "just not the way Jay Powell does things," Siegel said.
"But Jay Powell has done things way too slow, certainly on the way up, and I just want to make sure he doesn't make the same mistakes on the way down."
Persons:
Jeremy Siegel, Siegel, Jerome Powell, Powell, Jay Powell
Organizations:
Wharton, Federal Reserve, CNBC
Locations:
WisdomTree