Looking to Hike? Yellen Finally Admits Stocks Are Overpriced

Thursday, June 23, 2016
By Paul Martin

DailyBell.com
June 23, 2016

The Federal Reserve Says U.S. Stocks Are Overpriced … It’s the starkest warning yet under Chair Janet Yellen. The Federal Reserve on Tuesday delivered its starkest warning yet under Chair Janet Yellen that by its assessment U.S. stocks are pricey. “Forward price-to-earnings ratios for equities have increased to a level well above their median of the past three decades,” the Fed’s twice-annual Monetary Policy Report, the U.S. central bank concluded. -Reuters
We missed this. In her Tuesday statement to Congress, Yellen said asset prices were too high.

It’s true of course. But no doubt she has an ulterior motive for mentioning it.

Maybe this is a new way for Yellen to justify a rate hike.

She needs a rate hike to slow the market and provide the Fed some room to cut rates as necessary.

So far her justifications for a hike aren’t working.

One rate hike was implemented and almost collapsed the market.

Then she stopped. For now Yellen’s rate hikes are all talk.

Nobody really believes her anymore. Nobody believes that the US is in a recovery.

The Rest…HERE

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