Federal Reserve Governor Janet Yellen, who has finished his term said Friday, he is not convinced a big rise in stock prices on Wall Street in recent months is a symptom bubble or a bubble that can at any time (19659002) Yellen, who left his post on Saturday and will be replaced by Jerome Powell, Monday, made the comment in an interview with PBS television before the Dow Jones closed down more than 650 points , the biggest decline since June 2016.
"I do not mean to mention the behavior of the stock market we see as bubble but in my opinion, the value of these assets generally increases," Yellen said, and advised investors to "cautious in diversifying their investments."
US stock markets have gained more than 30 percent since President Donald Trump but on Friday, concerns about an interest rate hike following better-than-expected January jobs data led to a fall on Wall Street.
When asked about the state of the US economy, Yellen said that "the economy looks very "
The US economy added 200,000 jobs in January, with unemployment at 4.1 percent, its lowest level in more than 17 years.
19659002] When asked about Trump's decision not to renew his term of office four years later at the Federal Reserve, the 71-year-old Yellen admitted he was "disappointed".
"I want to hold another term and that I have revealed, "he said, in his first comment on the matter.
Yellen was appointed in 2014 by Barack Obama to lead the US Central Bank, Y ellen is the first woman to lead the US Central Bank.
Powell, a former Republican investment banker, will be one of the non-economist officials to hold the post. [ps/jm]