Brainard Says Valuations Elevated, Bitcoin Volatility ‘Extreme’
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Asset valuations are stretched across a broad set of financial markets and some cryptocurrencies have witnessed “extreme volatility,” Federal Reserve Governor Lael Brainard said, though overall risks to the financial system are still low.
“Estimates of risk premiums and spreads in a range of markets remain narrow by historical standards,” Brainard said Tuesday in prepared remarks at New York University’s Stern School of Business.