The Federal Reserve has gone too far with its interest rate hikes — creating a difficult upcoming three to six months for stocks, Wharton School professor Jeremy Siegel said Wednesday. The central bank raised rates by 25 basis points in March, which was its first monetary policy decision since the collapse of Silicon Valley Bank and Signature Bank. Siegel said he was bullish on stocks in January.
" Siegel said he thinks the Fed doesn't "recognize how much tightening to place by the fallout from SVB and the lending situation" and that a recession is imminent later this year. "It could be more severe than that, which could lead to more decline in earnings. So that's when I became more pessimistic for this year.
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