Tag Archives: Jeremy Stein
Your Guide to December’s FOMC Meeting: Breaking Down the Participants
In “Why the Fed Won’t Taper in December,” we pretended to write the first paragraph of the Federal Open Market Committee’s (FOMC) statement for next week’s meeting. By thinking about the likely mix of upgrades and downgrades to its assessment … Continue reading
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Tagged Ben Bernanke, Bill Dudley, Charles Evans, Charles Plosser, Daniel Tarullo, Dennis Lockhart, Eric Rosengren, Esther George, James Bullard, Janet Yellen, Jeffrey Lacker, Jeremy Stein, Jerome Powell, John Williams, Narayana Kocherlakota, Richard Fisher, Sandra Pianalto, taper, taper pause
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Why Stock Prices Are More Stretched than You Think: A Tale of 3 P/E Multiples
Update: The charts below are based on reported earnings, which I converted to constant 2013 dollars using the CPI. Back in May, I suggested the stock market was showing some signs of froth, although “maybe in the same way that froth … Continue reading
Asset Valuation and Fed Policy: We’ve Seen This Movie Before
Everyone seems to have an opinion on asset valuation these days, even commentators who are normally quiet about such matters. Some are seeing asset price bubbles, others are just on the lookout for bubbles, and still others wonder what all the fuss is … Continue reading
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Tagged asset price bubbles, Bernanke put, general equilibrium models, Howard Marks, Jeremy Stein, Jesse Eisinger, Mike Burry, Paul Volcker, short-termism, Tyler Cowen, ZeroHedge
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