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Jeremy Siegel: US stocks won't soar, Fed pause hopes are driving rally

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Wharton professor Jeremy Siegel says investors' hopes of a Fed pause are pushing stocks higher – and skipping a rate hike would lower the risk of a US recession

Wharton professor Jeremy Siegel has pointed to investors' hopes that the Federal Reserve will halt its interest-rate hiking cycle as a key driver of the recent strength in stocks, and argued a pause would a lower the risk of a US recession.on Thursday.

Asked whether stocks will soar or slide, Siegel said he didn't think the former was on the cards, but noted the powerful boost that artificial intelligence has provided to tech stocks such as Microsoft and Nvidia in recent weeks.

 

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