John Authers, Columnist

Powell's Ready to Play the Fresh Prince of Bubbles

The Fed chairman has made clear that shoring up the real economy overrides concerns about asset-price inflation.

June 11, 2020 at 4:00 AM UTC

John Authers is a senior editor for markets and Bloomberg Opinion columnist. A former chief markets commentator at the Financial Times, he is author of “The Fearful Rise of Markets.”

Ready to party?
Photographer: Richard E. Aaron/Redferns/Getty Images

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Are we ready to party like it’s 1999? Jerome Powell saved the best for last at his Wednesday afternoon press conference to accompany the announcement of low rates stretching as far as the eye can see. Asked by Bloomberg News’s Michael McKee if he was worried that a potential asset price bubble was forming, Powell gave a lengthy answer. Here is the most relevant passage: