By Ind Job Info Team
It's surprising to hear him say now that he wants the Fed to take it slow with interest-rate hikes to rein in inflation.
In an interview on Bloomberg's "What Goes Up" podcast, he said price trends "on the ground," not statistics, make him believe the economy and inflation are already slowing five months into the Fed's rate-hiking campaign.
“There is inflation in the pipeline, particularly the statistical pipeline, but we shouldn't be overly aggressive,” he said, citing commodity prices and a housing market slowdown. "Real-world inflation is peaking, but it will remain high in the statistics."
Siegel said this doesn't mean the CPI won't continue to show rising prices because it lags real-world events.
The increase so far and what the market expects have dramatically slowed money supply, he said.
Since March, money supply has shrunk, which is rare.
I don't think the market is overvalued. I don't think it's grossly undervalued or overvalued.