The U.S. Federal Reserve has been raising rates too quickly, and recession risks will be “extremely” high if it continues to do so, said Jeremy Siegel, professor emeritus of finance at the Wharton School of the University of Pennsylvania.
“They should have started tightening much, much much earlier,” he told CNBC’s “Street Signs Asia” on Friday. “But now I fear that they’re slamming on the brakes way too hard.”
Not everyone agrees. Thomas Hoenig, former president of the Federal Reserve Bank of Kansas City, said rates need to go up “much higher.”
Source by: CNBC
