Wharton's Jeremy Siegel sees Fed 'dot plot' shift toward tightening, expects stock decline

Jeremy Siegel
David Orrell | CNBC

Wharton School's Jeremy Siegel told CNBC on Wednesday he expects a shift in policy expectations from members of the Federal Open Market Committee when it releases its post-meeting statement later in the afternoon, and he predicted the stock market could drop as a result.

In an interview on "Halftime Report," Siegel said he believes central bankers will move up their projections for when the Federal Reserve will adjust interest rates from their near-zero levels.

"In March, only four of the FOMC members expected a Fed funds increase next year. I believe that that's going to increase to a majority," the finance professor told CNBC.

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