Jeremy Siegel blames the Fed for the 20% stock market drop late last year

. There were other dissenting votes during that period from regional Fed presidents. But Olson was the only Fed governor to voice opposition.

There are 12 voting members of the FOMC, consisting of seven Fed board governors who always vote; the New York Fed president who always votes; and four rotating regional Fed presidents. "We look over 15 years, a lot of mistakes were made. You think there would be some more lively discussion," Siegel said in Wednesday'sinterview, while blasting the Fed for hiking rates in December, even in the face of a stock market collapse, and signalling at least two more increases in 2019.

"If I were on the board, I would have dissented. I think they were not looking at the signals in the marketplace," he said. "By the way, they admitted it. They made a pivot a couple weeks later. But why did we need the market to fall 20% during that period?" He added, "I would like a little more split votes. It's not like the Supreme Court where we get 5-4 decisions. It's like 12 to nothing, 12 to nothing, 12 to nothing."rocketed higher, reaching new record highs this week and last week not since the fall before the bottom dropped out on Wall Street.

Nobody? Ok... I will... Cc: BagholderQuotes

So when does Mr. Siegel think the FED should normalize interest rates. If not now than when? Shouldn't people have an alternative to the Vegas like stock market like a savings account that pays 4-5% APY. i know Warren Buffett gets it.

Kind of like bitching about algos on the way down but then saying nothing when they mindlessly buy every time trump uses the world “China” or trade war going well for the 30th time

So cheap stocks are stupid to buy according to Siegel.

What about the 25% rally since?

Umm yeah. Just like it was the fed that caused us to have a 10 year bull run. And in the big picture a 30 year run.

Wow! News flash!!!!

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Source: CNBC - 🏆 12. / 72 Read more »