Dec 1996:
But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
(Greenspan)
Dec 2021:
Asset valuations are 'somewhat elevated.'
(Powell)
But how do we know when irrational exuberance has unduly escalated asset values, which then become subject to unexpected and prolonged contractions as they have in Japan over the past decade?
(Greenspan)
Dec 2021:
Asset valuations are 'somewhat elevated.'
(Powell)
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