Jeremy Siegel, a professor at Wharton Business School, appeared on CNBC to discuss a number of topics with the host.
During the interview, Siegel maintained he's still a long-term bull, but believes the markets will rally 10% or drop 20% based on China. The professor believes China is the biggest factor that will affect the market for the rest of the year. He believes reaching a resolution with the Asian country is necessary for the market to keep going higher.
Siegel believes the Federal Reserve will raise rates twice and that we'll be sitting at a 3.25% interest rate by next year. He also believes the rate hikes will lead to stocks underperforming as prices will have to readjust to the new interest rate environment.
