Janet Yellen stepped down as Fed chief on Saturday after one term, after US President Donald Trump opted to replace her with Republican Jerome Powell. Photo: APWashington: Outgoing Federal Reserve chair Janet Yellen said US stocks and commercial real estate prices are elevated but stopped short of saying those markets are in a bubble. But I do want to say high,” Yellen said on CBS’s Sunday Morning in an interview recorded on Friday as she prepared to leave the central bank. “Price-earnings ratios are near the high end of their historical ranges.”Commercial real estate prices are now “quite high relative to rents”, Yellen said. “What we look at is, if stock prices or asset prices more generally were to fall, what would that mean for the economy as a whole?” Yellen said.

Source: Mint February 04, 2018 16:41 UTC