Behind the Markets Podcast · Friday, August 28, 2026
Professor Jeremy Siegel lauded the Federal Reserve Chair's recent speech at Jackson Hole, particularly his emphasis on the money supply and commodity prices as key indicators. Siegel found the Chair's acknowledgement of potential rapid changes in inflation expectations and the limitations of forward guidance to be a positive and substantive development.
“Um, I I do think he turned it around. Um, uh, obviously, what warned the cockles of my heart was him saying, we have to look at the money supply.”
“He said, we look at commodity prices. We got to realize on when we look at data, it's all later data.”
“He said, you know, it reminds me of the famous, uh, Ernest Hemingway statement about how did you go bankrupt? He said, slowly and then all at once.”