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Fed Doesn't See Another Asset Bubble

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Robert Blumen

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Published : February 21st, 2004

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The same Fed that didn't see the 90's stock bubble now does not see another asset bubble, according to an article on CNN [article]. Iconoclastic Morgan Stanely economist Stephen Roach is quoted saying that the Fed has created "an economy addicted to rock-bottom nominal interest rates," and "Ironically, post-bubble America finds itself even more dependent on asset markets than was the case during the pre-bubble build-up."

Robert Blumen

Robert Blumen is an independent software developer based in San Francisco, California

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