Watch CNBC's full interview with Wharton's Jeremy Siegel on the Fed, markets and more

Jeremy Siegel, professor of finance at the University of Pennsylvania's Wharton School of Business, joins CNBC's 'Squawk Box' to react to October's producer price index data. Siegel also breaks down his outlook for future interest rate hikes from the Federal Reserve and more. "They're probably going to go 50 basis points, but that should be the absolute pause," Siegel tells CNBC.