(Bloomberg) -- 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%.
In an interview with Bloomberg on Friday, Siegel said the Fed should have been cutting interest rates already.
NOTE: Treasuries Surge as Traders Bet on Emergency Fed Rate Cut
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