New York Federal Reserve President John Williams said on Feb. 19 that high market prices are justified in the wake of a growing economy and low-interest landscape.
While stock valuations pushed to new heights not seen in decades and as corporate bond yields fall, the central bank official said he’s not concerned about current pricing.
“Market participants and investors around the world are looking ahead through this year and looking into an economy that hopefully have a pretty robust recovery and a strong expansion over the next several years, which would support stronger valuations,” Williams told CNBC’s Steve Liesman during an interview on “The Exchange.”
Major averages managed to build on 2020’s gains despite some concerning volatility.
Experts often cite Fed policy of low…