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Powell Sees 'Not a Lot' of Red Flags in Asset Valuations

FED

Q: Are you getting concerned about asset valuations?

  • A: Re financial stability, asset prices are one thing we look at, it's a mixed bag there (for equities, looking at P/Es vs risk premia etc). Admittedly P/Es are high but maybe not as relevant given historically low 10-Yr Tsy.
  • We look at leverage of financial institutions, and they have been a source of strength. Nonfin corporate leverage is high but interest rates are low so companies can handle debt loads. Households came into this very strong, and there's been a hit to the unemployed, but the CARES act replaced some income.
  • Very important the economy becomes strong again. Last thing is, funding markets. Broad fin stability picture is mixed but not a lot of red flags.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
Energy BulletsCommodities

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