Wharton Professor Predicts Potential Fed Rate Hold Amid Strong Employment Data

According to Odaily, Wharton School finance professor Jeremy Siegel has indicated that if the non-farm payroll data released on Friday, November 1, shows a significant increase, the Federal Open Market Committee (FOMC) may decide to keep the federal funds rate unchanged in November. Siegel anticipates that there will be three to four more rate cuts during this easing cycle. He also expects long-term interest rates to remain high, while the stock market appears robust and the economy shows resilience. In August, Siegel had called for an emergency 75 basis point rate cut by the Federal Reserve.