Edward Chancellor: Looking for Bubbles Part Two: A Sentimental ApproachVW Staff
Looking for Bubbles Part Two: A Sentimental Approach
“It is important for the Fed, as hard as it is, to try to detect asset bubbles when they are forming,” Janet Yellen, the Fed’s prospective new boss, told the Senate Banking Committee last November. At the time, and later when she reappeared before the same committee in late February, Yellen did not see speculative “excesses [as] having developed at this point.” To justify this claim, Yellen suggested back in November that U.S. stocks weren’t particularly expensive relative to analysts’ estimates of future earnings – a notoriously unreliable . . .
This content is exclusively for paying members. Access all of our content on including years of timeless investment news and in depth analysis for only a few dollars a month by signing up here while also supporting quality content and journalism, or learn more about our premium content here
If you are subscribed and having an account error please clear cache and then cookies if that does not work email firstname.lastname@example.org and we will get back to you as quick as humanly possible