Jeremy Siegel: 4 Things Must Happen for Economic, Market Recovery
April 1, 2020 by Jeff Berman
There are four steps that will lead to an economic and market recovery — and “we’re only going to have a market recovery if we have an economic recovery,” according to Jeremy Siegel, professor of finance at Wharton and WisdomTree senior investment strategy advisor.
“The first of these steps is fiscal and monetary support” — and “we can check that box” already because that arrived in “full force in the last two weeks as well as I could hope on both sides,” he said Monday during a weekly conference call on the state of the markets.
After all, the “very strong response” to the coronavirus and economic crisis that he called for “has been made” with the enactment Friday of the Coronavirus Aid, Relief and Economic Security (CARES) Act, he said. That followed Federal Reserve Chairman Jerome Powell slashing the federal funds rate by 1% to a range between zero and 0.25%.
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