stock valuations

Why Did Yellen Talk Up Stock Valuations Now But Not In May?

US Federal Reserve Chair Janet Yellen was recently noted for an important statement divergence. In a December 21 report, investment consulting firm compared Yellen’s May 5, 2016 statement that stock valuations “generally are quite high” with her December 14 that, seven months later, valuations remain in a normal range.  In a report titled “Deception,” author Michael Lebowitz accurately noted that Price / Earnings ratios rose in seven months as, oddly, interest rates also rose – two normally noncorrelated market factors. What Lebowitz didn . . .


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