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Yellen, Janet L. on 2018 February 4 at 09:00

Well, I don't want to say [asset prices are] too high.  But I do want to say high.

As for whether Yellen's view that the stock market (which plummeted on Friday) has been too high in recent months:  "Well, I don't want to say too high.  But I do want to say high. Price-earnings ratios are near the high end of their historical ranges.  If you look at commercial real estate prices, they are quite high relative to rents.  Now, is that a bubble or is too high?  And there it's very hard to tell.  But it is a source of some concern that asset valuations are so high. Yellen, Janet L.

CBS 60 Minutes Interview

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