Wharton professor Jeremy Siegel says the Fed is making another mistake by raising interest rates and tightening monetary policy too aggressively. Siegel said the central bank is making working- and middle-class Americans pay with what he expects will be a punishing recession. He said workers aren’t the ones driving inflation with higher wages — they’re just trying to catch up. The Dow DJIA, -1.62%, recorded its lowest closing level of the year at 29,590.41.Read Long Article
