Wharton’s Siegel Accuses Fed of Making One of the Biggest Policy Mistakes in Its 110-Year History

He argued that the Fed made a massive policy mistake last year by not moving to tighten monetary policy before inflation got out of hand, and he mocked the Fed and Powell for insisting inflation would quickly fade on its own. And now, Siegel said, the Fed is making another mistake by raising interest rates and tightening monetary policy too aggressively.