Central Banks
Wharton’s Siegel Calls for Aggressive Cuts to Fed Funds Rate
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The Federal Reserve should make a 75 basis-point emergency cut to its funds rate, followed by another of the same magnitude at its September meeting, Wharton School Professor Jeremy Siegel said.
“And that’s minimum,” Siegel said in an interview with CNBC on Monday. He said the rate should be between 3.5% and 4%. The target fed funds rate is currently 5.25% to 5.5%.