Does the recent market turmoil mean the bull market is ending? Jeremy Siegel doesn’t think so, even if the Federal Reserve starts raising interest rates sooner than previously expected.
“If you look at history, the bull markets do not end when the Fed starts raising interest rates,” the author and Wharton professor told CNBC. “Bull markets could go on for another nine months to two years,” he said. “Maybe [the rate hikes] will be March or April instead of June or July. That should not matter at all, in terms of the big picture.”
Siegel thinks that any correction at this point would be mild and create a great buying opportunity. “I still think the big bull is taking control of this market. I don’t think he’s going to give up,” said Siegel. “Surely there might be a correction. We always have a corrections in a bull market. I actually don’t think this is going to be one of them.”