the revised firstquarter gdp growth and a few other data points released recently show that the economy has been chugging along fairly well despite the uncertainties but an economist cautions the strength could be a thing of the past what happened the economy looks like it is progressing smoothly with resilient consumer remaining immune to the impact of the higher borrowing costs said wharton professor jeremy siegel in wisdomtrees weekly commentary it is the ‘yolo you only live once consumer out traveling and enjoying the summer  the economists said but he cautioned of the trajectory going forward but also this could be one of the last good stretches for the economy before the summer ends and credit card bills come due—then we go back to school and september to october have been times of some dicey periods for the markets the economist said it would be a mistake if the federal reserve allowed the job market to turn down significantly before it stops hiking and starts easing see also how to invest in startups siegel conceded that he did not expect the job market and the real economy to be as strong as they have been considering the fact that real interest rates increased significantly and liquidity has declined yet i do not think the second half of the year will be a great time for the markets he said adding it isn’t likely to deteriorate dramatically either he sees a battle in the market dynamics between recession fears and a slowdown the fed will likely respond by bringing in more accommodation and lowering rates he added why its important after pausing in june the fed is widely expected to raise the fed fund rate when the monetarypolicy setting of the arm meets later this month the futures market has begun pricing in a 949 probability of a 25 basis point hike to 525550 but a section of the analysts are optimistic the june consumer price inflation will surprise to the downside and prices will continue to trace a downward trajectory in the months to come this could provide leeway for the fed to drop its hawkish stance siegel said clearly there are more hawks than doves at the fed even though i still believe the fed should pause hikes and monitor the cumulative impact of the tightening already in place read next new york fed survey shows lowest shortterm consumer inflation expectations since april 2021