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Yellen Calls Prices `High' for Stocks, Commercial Real Estate


Commercial real estate prices are now “quite high relative to rents ... To contact the reporters on this story: Ros Krasny in Washington at rkrasny1@bloomberg.net, Scott Lanman in Washington at slanman@bloomberg.net. To contact the editors responsible ...


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Yellen Calls Prices `High' for Stocks, Commercial Real Estate //id:"+t+"; typeof obj: "+typeof i))}function p(){var r,u,n,t;if(e.length&&!i){do for(r=e,u=r.length,e=[],i=1,t=0;t1);i=0}else i&&(i=2)}function it(i,r){for(var s,v,h,u=[],c=r?r.length:0,e=0;e .storyimage.smallfullwidth .image,.storyimage.smallfullwidth img{background:#000;margin:0 auto}#toast-container{display:none}.tmx.pc.edge #q::-ms-clear{display:none}.mobile .galleryinfo .img-divider{display:none}.homepage.tmx.pc.chrome #main .one-col,.homepage.tmx.pc.chrome #main .two-col,.homepage.tmx.pc.chrome #main .three-col{margin-right:-.016rem;margin-left:-.016rem}.homepage.midlevel .pagingsection>button.show,.channelplayerpage.midlevel .pagingsection>button.show{display:none}.tmx.pc.edge #q::-ms-clear{display:none} Home News Weather Entertainment Sports Money More > Lifestyle Health & Fitness Food & Drink Travel Autos Video money You are using an older browser versionPlease use a supported version for the best MSN experience. Yellen Calls Prices `High' for Stocks, Commercial Real Estate Bloomberg 2 days ago Ros Krasny and Scott Lanman © BloombergJanet Yellen(Bloomberg) -- Outgoing Federal Reserve Chair Janet Yellen said U.Sstocks and commercial real estate prices are elevated but stopped short of saying those markets are in a bubble. require(["rtquotes", "c.deferred"], function (globalrefresh) { globalrefresh.addTickers(""); }); Quotes in the article CBS Corp CBS ▼ 53.81 -0.27 -0.50% Wells Fargo & Co WFC ▼ 57.28 -0.88 -1.51% “I don’t want to say too high, but I do want to say high,” Yellen said on CBS’s “Sunday Morning” in an interview recorded Friday as she prepared to leave the central bank“Price-earnings ratios are near the high end of their historical ranges.”Commercial real estate prices are now “quite high relative to rents,” Yellen said“It’s very hard to tell” whether that’s a bubble or just “too high.“Now is that a bubble or is it too high? It’s very hard to tell.”Yellen, 71, stepped down as Fed chief on Saturday after one term, after President Donald Trump opted to replace her with Republican Jerome Powell, who’s been a Fed governor since 2012.“I made it clear that I would be willing to serve, so yes, I do feel a sense of disappointment” about not being renominated, Yellen said, describing her work at the Fed as “the core of my existence.” Yellen said she’s supportive of Powell, whom she termed “thoughtful, balanced, and dedicated to public service.”Greater ResilienceThe financial system is now much better capitalized and the banking system more resilient than during the global financial crisis a decade ago, Yellen said“I think our overall judgment is that if there were to be an overall decline in asset valuations,” it wouldn’t damage the “core” of the the financial system, she said.Yellen’s final act at the Fed was to hit one of the largest U.Sbanks, Wells Fargo & Co., with an unusual ban on growth that follows the San Francisco-based lender’s pattern of consumer abuses and compliance lapses.In the interview that aired Sunday, she warned that it would be a “grave mistake” to roll back the regulations put on banks and other financial institutions in the wake of the past crisis.To contact the reporters on this story: Ros Krasny in Washington at rkrasny1@bloomberg.net, Scott Lanman in Washington at slanman@bloomberg.netTo contact the editors responsible for this story: Brendan Murray at brmurray@bloomberg.net, Kevin Miller, Scott Lanman ©2018 Bloomberg L.P. Go to MSN Home More in Money America's most hated companies 24/7 Wall St. The best US cities for retirement The Street 28 Ikea facts that may surprise you Lovemoney 11 steps to make a million with your 401(k) U.SNews & World Report - Money Up Next America's biggest boomtowns and why they're blossoming Lovemoney The best small towns to retire in The Street The 50 best jobs in America right now Business Insider More in Money The biggest Super Bowl advertisers of all time 24/7 Wall St. The incredible yet tragic life of the man with all the money in the world Lovemoney Renovations that will hurt your home's value GOBankingRates //> 1); } } else { // if we got here, we didn't find anything but scriptTry again later. setTimeout(checkAndSetAdContainerVisibilityRec, contentCheckTimeout); } } } function checkVisibilityAndUpdateRenderDataContextForElement(renderData) { if (!renderData) { return; } evaluateAdContent(renderData); } function evaluateAdContent(renderData) { var adContainer = renderData && renderData.elem; if (!adContainer) { renderData.adSizeType = AdSizeType.Inconclusive; } var adIframeCollection = adContainer.getElementsByTagName("iframe"); var evaluationResult; for (var adIframe, ndx = 0; (adIframe = adIframeCollection[ndx]); ++ndx) { // skip script-only iFrame elements var body = ((adIframe.contentDocument || (adIframe.contentWindow || {}).document) || {}).body; if (!body || !body.hasChildNodes()) { continue; } var childNode, hasChildDiv = false; for (var index = body.childNodes.length - 1; (childNode = body.childNodes[index]); --index) { if (childNode.nodeType === 1 && childNode.nodeName !== "SCRIPT") { hasChildDiv = true; renderData.adSizeType = evaluateElement(childNode, renderData); if (renderData.adSizeType === AdSizeType.NonPointSizedAd) { return; } } // Bug 1715559:[dl_ux][FF9.0] [Win7] - Advertisement is overlapping destination section // For FF lower versions (FF9.0), index may be negative and hence cause js errors // Add index value check to solve the problem if (index discernibleAdWidthThreshold && maxHeight > discernibleAdHeightThreshold) { return AdSizeType.NonPointSizedAd; } if (maxWidth > 0 && maxHeight > 0) { return AdSizeType.PointSizedAd; } return AdSizeType.Inconclusive; } function evaluateElementDimension(element, isWidth, threshold) { var dimensionProperties = isWidth ? 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