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Stocks Are Up but Overall Outlook Is Far From Certain
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May 5, 2021 9:44 AM UTC But from, again, from a financial stability kind of point of view, one of the things that we re not seeing, at least in the news so far, is this buildup of leverage, whether by households, by businesses or others, that could really cause a, if there were a decline in asset values, a sudden decline, that would then amplify that and have a larger effect on the economy. So I think the good news so far is that people have learned the lessons from the financial crisis, and we re not seeing, even if asset valuations are higher, we re not seeing taking on a lot greater risk or leverage underlying that.