Wharton Finance Professor Warns Fed Has to Be ‘Far More Aggressive’

Here's how to protect yourself financially from the inflation storm that's already underway

Federal Reserve Chairman Jerome Powell testifies during a Senate Banking, Housing, and Urban Affairs Committee hearing on the CARES Act, at the Hart Senate Office Building in Washington, on Sept. 28, 2021. Kevin Dietsch/Pool via Reuters

Commentary

Professor Jeremy Siegel sounds pessimistic about the equity market. The Russell E. Palmer, finance professor at the University of Pennsylvania’s Wharton School of Business, predicted the Dow Jones would rise above 20,000, years before it did. Now he warns that “too much money chasing too few goods implies that inflation is likely to be a worse problem than Wall Street expects.” He thinks this means that the Federal Reserve will have to be much more aggressive than most analysts and economists currently predict.