Fed Doesn’t See Another Asset Bubble

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.”