‘I’m a monetary theorist. This is what I teach and study. This is unprecedented in 75 years, since World War II. I think there’s a lot of repressed liquidity in the market that once the vaccine and the pandemic fears fade in 2021, we’re going to see a big boost in activity.’
Siegel explained that the “tremendous burst of liquidity” from the Federal Reserve and Congress will continue to provide a huge tailwind for stocks.
But, the immediate future, he warned, remains precarious.
“It’s hard for me to see, without a stimulus package and with that election uncertainty, for there to be a lot of progress between now and the first week of November,” Siegel said. “I think that uncertainty is going to continue to weigh onto the markets.”