Wharton School Professor: Fed Rate Hikes to Exceed Expectations, Bitcoin Emerging as Millennial's New Gold

Jeremy Siegel, a finance professor at the Wharton School of the University of Pennsylvania, stated that in the minds of many young investors, Bitcoin has replaced gold as an inflation hedge tool and has become the new gold for the millennial generation.

Jeremy Siegel, a finance professor at the Wharton School of the University of Pennsylvania, stated that in the minds of many young investors, Bitcoin has replaced gold as an inflation hedge tool and has become the new gold for the millennial generation.

Jeremy Siegel issued a warning, stating that the Federal Reserve is likely to raise interest rates much more than the market expects, with the federal funds rate possibly reaching 2% or higher by the end of 2022. He emphasized his concerns, saying, "I have been warning about inflation for a long time. For a year and a half, I have been warning about inflation."

"The Fed and the Treasury have gone too far, especially the Fed in terms of liquidity... They are way behind the curve, we have embedded a lot of inflation."

During an interview on CNBC, Jeremy Siegel shared his outlook on various markets, suggesting that investors should get involved in the crypto market this year.

Jeremy Siegel is a professor of finance at the Wharton School of the University of Pennsylvania. His research focuses on demography, financial markets, long-term asset returns, and macroeconomics.

When asked about the prospects of gold and commodities as future investments, Jeremy Siegel described gold as "disappointing" because "the fact that the younger generation sees Bitcoin as a substitute for gold is a reality."

"The older generation remembers the 1970s, when gold soared during that period of inflation. But this time of inflation, (gold) is not popular."

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