wharton finance professor jeremy siegel. professor, for months now many economists have had fever dreams that the9 fed, for sure, will shut the door on future hikes. what did you hear from jay powell about what's coming by the end of this year? >> well, certainly more people seem to think one hike is necessary, but i think they're waiting for the data. i think what is a little surprising to the market was that the expectation for the fed funds at the end of next year is now 50 basis points higher than it was at the last meeting. in other words, we're staying higher for longer, much long longer, and in a way that i think is hitting the bonds. as you properly said, the 2-year, 10-year jump, those high duration stocks, we've seen in the nasdaq they're being hit more at this time. another very big surprise is many june they predicted gdp this year would grow 1%, now we're in september and they've more than doubled it to 2.1. and it also shows you how difficult it is for them to predict what is actually happening. more than doubl

it is the jeremy siegel, wharton's professor. don't miss it.♪ ♪ (upbeat music) ♪ ( ♪ ) ( ♪ ) ( ♪ ) -awww. -awww. -awww. -nope. ( ♪ ) constant contact delivers the marketing tools your small business needs to keep up, excel, and grow. constant contact. helping the small stand tall. i've spent centuries evolving with the world. that's the nature of being the economy. observing investors choose assets to balance risk and reward. with one element securing portfolios, time after time. gold. agile and liquid. a proven protector. an ever-evolving enabler of bold decisions. an asset more relevant than ever before. gold. your strategic advantage. liz: well, as the strike i by uaw workers enters its fifth day, union leaders are warning if serious progress is not made by noon on friday, the strike may be expanded. currently, the walkout is hitting one facility of each of the three automakers, gm, ford and stellantis. the strike is starting to have an impact beyond the automakers as u.s. teal said it is temporarily idling -- steel -- a blast fur mace in il

. >> i go back to jeremy siegel's the shows 210 years of gold inflation-adjusted the dollar two yearsow worth $4, that is not a great return. let's go to better action ideas, what you have for us. >> i'm a believer in the commercial aerospace recovery. in april domestic travel started to eclipse pre-adamic levels in international still lagging behind the more planes in the air mean more repair cost more parts needed. that is the company aar and the ticker is a ir that does a lot of this and supplyarts for engines coming back for service that is a good stock. >> i'm doing my part i'm flying internationally for barons. carleton is going to be in the seat. >> i'm looking a adco combining the act tech with trimble it is going to make it a better competitor with deer and the best part a trade that seven times earnings in deer is at 11.4 this is going to help the evaluations come back together and looking pretty interesting. another thing is going to do you will have the precision agriculture business this is the big thing in agriculture, that is going to boost profit margin as well. the st

i always go back to jeremy siegel's chart that shows 210 years of gold inflation adjusted $1 200 yearss now worth four. that's not a great return. yeah, i'm not excited about that. all right. let's go to better actual ideas. al, what do you have for us? i'm a believer in the commercial aerospace recovery. in april, domestic travel started to eclipse pre-pandemic levels as international travel still lagging a bit behind. but more planes in the air mean more repair costs, more parts needed. so that's a company r and the ticker is air does a lot of this. they fix and supply parts for engines that are coming back for service. that's a good stock. all righty. i'm doing my part. i'm flying internationally to australia next week for barron's. carlton is going to be in the seat. what do you have for us, ben? i'm looking at agco. it's combining its ag tech business with that of a company called trimble, and it's going to make it a better competitor with deere, the best part about this is that agco trades at just seven times earnings. deere is 11.4. this is going to help those valuations come ba

and, as jeremy siegel always says, don't look at the year over year look at the month over month, year over year is 11 bad data points and one good one. ah jack. we talked about china and the iphone a little bit. i feel like i don't know once every once a year. maybe there's this scare. china is not going to buy these things anymore. the stocks tank, and then everyone says maybe they will. but china doesn't really want an american company like apple to remain dominant in china. i mean, the deal was apple created a lot of jobs there. now wait isn't in china have increased and apples, moving some of those jobs away to vietnam to india, so the deal is kind of slipping and i think you're going to see more news like this. i think trying to would greatly prefer that it's consumers at home by one of the local favorites like huawei, so i think it would. conditions will become more difficult for apple in china. this starts getting hit right all the text talks getting hit. that's not just about this news. the china risk is not so new. it's about the valuation. your tech stocks have run up dramat

don't miss our all-star lineup, jeremy siegel and kyle bass. ♪.arry: hello, folks, welcome to "kudlow," i'm larry kudlow. so the federal reserve meeting is, held today and tomorrow and there's an fomc announcement followed by the usual jay powell press conference. that's slated for tomorrow afternoon. i guess at 2:30. for all you fed-watchers out there, others concerned about your stock market portfolio, the fed's got a brand new challenge. it is called 100-dollar oil. good story on the front page of "the wall street journal" website. all about saudi and russia production cuts and yes, the fed's going to hold their interest rate target steady tomorrow. i have guess everybody thinks that. but several analysts think world oil is understocked now by several million barrels a day at least and going beyond the journal's oil story joe biden has essentially frozen drilling in alaska, big chunks of the gulf of mexico, and, closing down oil and gas exploration in the great state of new mexico. i believe we got that news today, didn't we? which happens to b

which spills over into the show we will be covering live with a stellar lineup including wharton's jeremy siegelnesday 3:00 p.m. eastern you do not want to miss them and their assessment they will pull it all apart, oil moved today not helping inflation in the picture during the regular session west texas intermediate hit a 2023 hi today of over $92 a barrel in the aftermarket pulling back just a bit, 9165, some analyst your hearing more and more predictive return to $100 per barrel before 2024, we showed you the ten year yield bond years to a 16 year high, two-year holding comfortably above 5% at 5.054% at the moment from the mostly the ten year four-point to 3% let's get to the floor show, j.p. morgan asset management managing director, chief market strategist phil blanco, the fed we know most likely it is a pause but what will you be looking most closely as it weaves into the equity picture. >> this is probably one of the most important meetings that we had a long time. they will stay at current levels and this is an economy defying gravity much to their surprise, back in june they said the u

jeremy siegel is here, vaneck, jeff donelock and method man from wu tang clan. players. >> we did. >> to get at the new generation. what are you trying to get at? >> it's about 3,000 people here and we have i think three quarters of a mile of beach front boardwalk thanks to huntington beach, california. we've god advise from all over the country, fin tech executives, asset management executives, portfolio managers, wealth managers and the idea is that a everyone coming here wants to be part of the future. they want to be part of this next generation that's driving where things are going. they want in on the decision making. they want equity, they want buy-in, and they want to meet each other. >> i do loot of conference organizing and we knock ourselves out on the informational part, on thep content part. what you seem to be pointing out, the social interaction is as important as the tonight. >> i think our program is top notch in terms of the content on stage. when talking about people of the caliber of jeff gunlock and all the podcasts coming out we're a not ig

liz: we let our viewers know opening your mind, jeremy siegel's mine, kyle bass, bob doll, to let you know what is exactly happening. we're ending at session lows. tomorrow this could all change. also tomorrow i need you to tune in as we said palantir ceo alex carp joins me live from washington, d.c. to discuss the impact of a.i. on the military and how it is helping ukraine win the war. [closing bell rings] that will do it for us. "kudlow" is next. ♪. larry: hello, folks, welcome to "kudlow," i'm larry kudlow. oil prices are heading to $100 a barrel, gasoline moving back to $4 a gallon, top line inflation has been going up, not down in recent months because of the oil shock. the federal reserve has a history of accommodating or monetizing oil shocks especially in the 1970s but also including the early 2000s. so now the latest shock is a fed challenge. however, today at his press conference fed head jay powell never mentioned the oil shock, except when our great reporter edward lawrence asked a question about it. now take a listen, please, to one of the goofiest answers you're ever go

i want to bring in jeremy siegel he's the professor emeritus of finance at the wharton school of business their commentary, you don't really think that they should or very likely will raise rates again, is that right? >> well, there's certainly a lot of uncertainties with the strike, with the shutdown of the government and actually, political calculations, you know, is one increase or two increases, is that the straw that's going to break the camel's back you know, i really think that the political calculus is that they should not raise again. i mean, if you had asked the american public, the average worker, do you want to squeeze a point or two off of super core inflation, you know, which is what jay powell looks at now, over the next two years, or do you want 1.5 million to 2 million more unemployed, i think they would say, hey, listen, i don't want any recession so, you know, but they're going to -- they have to talk hawkish, being the central bank i think they're going to see the dot plot being hawkish i think they're going to push those rate cuts, you know, back down they don't know