The rally in stocks could be endangered if the Fed doesn't cut rates soon, Jeremy Siegel warned.
The Wharton professor made the case for the central bank to cut rates in September as data softens.
AdvertisementThe rally in stocks and the strength of the economy is at risk if the Fed doesn't start cutting interest rates soon, according to Wharton professor Jeremy Siegel.
No rate cut in September could put a recession on the table, Siegel warned, in addition to endangering the trajectory for stocks.
Advertisement"So although I think stocks are still in an uptrend and the growth stocks are still certainly walloping the value stocks, I think Powell has to take note," Siegel said.
Persons:
Jeremy Siegel, Wharton, —, who's, Siegel, Powell
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