Fed at Risk of Crashing U.S. Economy: Expert

The Federal Reserve needs to act with caution or it could cause the U.S. economy to crash, according to one expert.

Jeremy Siegel, a finance professor at the University of Pennsylvania's Wharton School, said in a clip shared by CNBC's Squawk Box Wednesday that "the Fed has just got to be careful not to slam on the brakes and just crash this economy."

"They have to realize that most of the inflation now is behind us, even though it's going to be going through the official statistics over the next six to 12 months," he said.