Is The Fed's Uberdove Turning Hawkish?
In 1996 it was Alan Greenspan with his "irrational exuberance" call, is Janet Yellen sending the same message, as she warns...
- *YELLEN SEES SIGNS "SOME PARTIES ARE REACHING FOR YIELD"
- *YELLEN SAYS LOW INTEREST RATES MAY PROMPT "TOO MUCH LEVERAGE"
Did the Fed's most dovish member, and likely next chairperson just suggest that, while 'lower for longer' rates will continue, that stocks and high-yield credit look a little more than frothy.
Live Stream of Yellen's comments (and ongoing IMF conference)
And this is just months after Fed board member Jeremy Stein who launched the first hawkish warning on the visibility of asset bubble, especially in corporate credit - Overheating Corporate Credit Markets.