Jeremy Siegel: This economy can take a rise in short term interest rates

• Siegel expresses relief as bond yields, particularly the 30-year TIPS real yield, pull back from recent highs.
• He argues that high-margin tech companies (50-70% margins) are better positioned to absorb rising interest rates compared to 'real world' companies (7-10% margins).
• Siegel believes the economy can withstand further short-term interest rate increases and suggests the Fed may implement two more hikes this year, potentially considering political timing for the November meeting.

Jeremy Siegel, Professor of Finance at Wharton School, discusses the bond market, noting relief as yields pull back from 24-year highs. He believes the economy is strong enough to absorb further short-term interest rate increases, highlighting tech companies' resilience due to high margins, and suggests the Fed might still need two more hikes this year.