Ryan had the headlines from Federal Reserve chair Janet Yellen overnight:
Low interest rates are necessary to help meet objectives says Yellen
The Wall Street Journal have a bit of a recap up. Yellen's comments came in "A conversation with Fed Chair Janet Yellen and IMF managing director Christine Lagarde".
From the Journal:
- Stock market valuations appear "quite high" ... "I would highlight that equity market valuations at this point generally are quite high. Not so high when you compare returns on equity to returns on safe assets like bonds, which are also very low, but there are potential dangers there."
- Some bond and loan markets suggest investors may be taking excess risks
- Risks to financial stability generally are contained
The journal adds that Yellen ' didn't address the current state of the economy or monetary policy.'
