Robert Shiller says the Fed's rate cut had the opposite intended effect, sparked recession alarm

The word "recession" has been thrown around a lot lately, putting many investors on edge. Robert Shiller, professor of economics at Yale University and co-founder of the Case-Shiller Index, and CNBC's senior markets commentator Mike Santoli, join "Squawk Box" to discuss the best metrics of investor sentiment.

Robert Shiller is an American economist, academic, and best-selling author. He currently serves as a Sterling Professor of Economics at Yale University and is a fellow at the Yale School of Management's International Center for Finance. Mr. Shiller has been a research associate of the National Bureau of Economic Research (NBER) since 1980, was Vice President of the American Economic Association in 2005, and President of the Eastern Economic Association for 2006-2007. He is also the co founder and chief economist of the investment management firm MacroMarkets LLC. Shiller has received the Nobel Prize in Economics and is ranked among the 100 most influential economists of the world. He has authored seven books, including Animal Spirits, Irrational Exuberance, and his latest work published in 2015, Phishing for Phools: The Economics of Manipulation and Deception.