From Greenspan’s “irrational exuberance” to Powell’s “U.S. stock valuations are high,” what does the Federal Reserve Chair’s “risk warning” mean for the markets?
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The warnings from Federal Reserve chairs about stock market valuations have always attracted much attention from the market, but according to the latest research by J.P. Morgan, such warnings often have limited actual impact on the market.
This week, Powell explicitly stated in his speech that while stock prices
