St. Louis Fed President James Bullard said market prices aren’t showing evidence of a bubble, though he noted stocks are “highly valued.”
by Jeff Cox
CNBC.com
St. Louis Federal Reserve president James Bullard said Tuesday that he doesn’t see a bubble in asset prices and doubts the central bank needs to start tightening policy anytime soon.
With prices surging in the stock market and in alternative assets like bitcoin, Fed officials have faced repeated questions about whether low rates and trillions in bond buying have helped create dangerously high valuations.
But Bullard told CNBC that there aren’t clear signs of excesses though he conceded that stocks are “highly valued on the whole.”
“The biggest thing in equities is really these tech firms and how high are you going to value these guys,” he said on “Squawk Box.”