Top Market Watcher Predicts Debt Crisis Resolution with Certainty
Wharton professor Jeremy Siegel believes there is "zero chance" that the US debt crisis won't be resolved, despite concerns from investors and economists about the potential consequences of a debt default. Treasury Secretary Janet Yellen has warned of "economic and financial collapse" if the deadline to increase the debt ceiling passes, but Siegel believes lawmakers will come to an agreement. Most Wall Streeters also believe the debt ceiling will be raised in time, but there may be some market volatility in the near term.
