Long-time bull Jeremy Siegel said Thursday that 2016 will bring much better earnings growth due to one factor: The Federal Reserve.
"I actually think we're not going to get four rate increases next year," the Wharton School professor told CNBC's "Squawk Box."
"I think we're going to get two or three. I don't think we're going to get interest rates that are going to go up all the way back to the precrisis level," he said. "I think we're going to stay at low interest rates, and that's why I think valuations can stay on the high side."
The Fed raised rates for the first time in nearly 10 years on Dec. 16, but maintained that the path toward normalization would be a "gradual" one.