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Investing.com – University of Pennsylvania Wharton School of Business finance professor Jeremy Siegel said the U.S. stock market rally could end soon and the economy could enter recession by the end of this year. writes RBC.
“I wouldn’t be surprised if that happens and I think we’re going to see big changes in the second half of the year,” Siegel said.
He also added that in the current situation it is difficult to see growth catalysts for the market in the second half of this year.
Siegel stressed that US jobless claims are down, the money supply is shrinking, and student loan payments are resuming. Against this backdrop, the US Federal Reserve is unlikely to go for two more interest rate hikes to fight inflation. There is a possibility of lowering rates, the expert added.
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Text prepared by Timur Aliev
2023-06-27 18:11:00
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