Jeremy Siegel, a finance professor at the University of Pennsylvania, recently warned of high inflation and Fed decisions.
In an interview with CNBC, Wharton’s finance professor Jeremy Siegel gave some information about the developments he expects in the field of economics. Siegel made a statement about cryptocurrencies as well as general economic developments. That Bitcoin will become the new gold for years expressed.
In the interview, it was asked whether it would be more appropriate for investors to turn to gold or commodities such as cryptocurrencies among future investments. In the professor’s statement, the gold “it’s disappointing“Bitcoin of the younger generation,” he said. substitution of gold stressed that he saw it as
Now is the time to face the facts. Because most young investors prefer “Bitcoin” instead of “gold” to avoid inflation. So cryptocurrencies became the new gold for millennials.
Stating that gold has risen in high inflation periods in the past, Siegel stated that this situation has now changed and benefited cryptocurrencies.
Professor Siegel also stated that investors should turn to commodities in emerging market conditions. Stating that the FED and financial authorities have negatively affected the market in terms of liquidity, Siegel said that the FED in particular exaggerated this situation.
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The professor, who made warnings in the field of inflation in general, said that citizens were exposed to too much inflation. As a result, he stated that the FED would have to take more measures than the market expected.