According to Siegel, the Stock Sell-Off on Wall Street Post-Fed Decision is "Healthy"

According to Jeremy Siegel, an emeritus finance professor at the Wharton School of the University of Pennsylvania, the Fed's cautious projection regarding future interest rate cuts provided investors with a "reality check," which is why the stock sell-offs on Wall Street were "healthy."

Siegel stated in an interview on CNBC's "Squawk Box Asia," "The market was almost in a panic mode, and this brought them to the reality that when the Fed begins its easing cycle, we won’t reach the low interest rates that investors have been talking about."

He expressed that he was not surprised by the sell-offs, stating, "The market was overly optimistic," and he expects the Fed to limit the number of interest rate cuts next year to one or two. Siegel also mentioned that due to the FOMC's upward revision of its future inflation forecast, there is a "possibility of no cuts" next year.