Wharton professor Jeremy Siegel says he sees a stronger US economy ahead - and suggests investors should stop throwing temper tantrums over high inflation
Investors should stop being so vexed about US inflation because the economy is stronger than ever, according to Wharton professor Jeremy Siegel. showed price pressures still remained stubbornly high. The US Consumer Price Index rose 6.4% in January from a year earlier, just shy of December's annual change of 6.5%.
Last year, the Federal Reserve embarked on an aggressive interest-rate campaign to cool decades-high inflation down to its 2% target. It has lifted its benchmark rate by 450 basis points since last March. Siegel noted that lagged housing market data is what held up January's inflation reading. Shelter costs increased 7.9% last month from a year earlier, showing it was the largest contributor to the monthly all-items increase, according to the Bureau of Labor Statistics.
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