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Wharton School economist: If Powell does not cut interest rates sharply, the US economy may "head for a cliff"

Wharton professor Jeremy Siegel, known as the "godfather of the stock market", recently wrote that the Federal Reserve should consider deeper interest rate cuts or risk a recession. Siegel argued in the article that most economic models suggest that Powell should choose the level of the federal funds rate that best suits the economy, rather than focusing on the speed of rate cuts from very restrictive levels.

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2024-09-18 09:54:09
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