STAFF NEWS & ANALYSIS
Looking to Hike? Yellen Finally Admits Stocks Are Overpriced
By Daily Bell Staff – June 23, 2016
The Federal Reserve Says U.S. Stocks Are Overpriced … It’s the starkest warning yet under Chair Janet Yellen. The Federal Reserve on Tuesday delivered its starkest warning yet under Chair Janet Yellen that by its assessment U.S. stocks are pricey. “Forward price-to-earnings ratios for equities have increased to a level well above their median of the past three decades,” the Fed’s twice-annual Monetary Policy Report, the U.S. central bank concluded. -Reuters
We missed this. In her Tuesday statement to Congress, Yellen said asset prices were too high.
It’s true of course. But no doubt she has an ulterior motive for mentioning it.
Maybe this is a new way for Yellen to justify a rate hike.
She needs a rate hike to slow the market and provide