Ed Yardeni Draws Parallels To Jerome Powell’s Equity Remarks With Alan Greenspan’s ‘Irrelational Exuberance’ Comments: Report
Synopsis
According to a report by CNBC, while Yardeni agreed with Powell’s comments about the stock market, the Fed Chair’s remarks about financial stability triggered his contrary instincts.
Economist Ed Yardeni, president of Yardeni Research, on Wednesday reportedly drew parallels to Federal Reserve Chair Jerome Powell’s remarks on equity prices being “fairly highly valued” with former Fed Chair Alan Greenspan’s “irrational exuberance” comments in 1996.
According to a report by CNBC, while Yardeni agreed with Powell’s comments about the stock market, the Fed Chair’s remarks about financial stability triggered his contrary instincts.
“Financial crises tend to be Black Swans, i.e., events that occur unexpectedly, especially when irrational exuberance is widespread and intensifying,” Yardeni said, according to the report.
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