The Fed: The Fed official most concerned about possible asset bubbles presses the alarm button (again)

Boston Fed President Eric Rosengren

Boston Fed President Eric Rosengren has been concerned about a potential asset bubble in commercial real estate since late 2015. And he says that the problem of asset prices has gotten worse, not better.

“For a while, real estate looked like the only asset class that was showing signs of having substantial variation from what the average valuation had been, but I think we’re starting to see more asset markets have that characteristic,” he says.

This makes life hard for the central bank. For instance, it makes it more difficult for the central bank to engineer a soft landing for the economy, Rosengren said.

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