Yellen to Lucas: Farm land prices inflated
In response to a question from House Agriculture Committee Chairman Frank Lucas, R-Okla., at a House Financial Services Committee hearing Tuesday, new Federal Reserve Bank Chairman Janet Yallen said that she believes land prices have become inflated.
“I have tried to look carefully at whether or not broad classes of asset prices suggest bubble-like activity. I’ve not seen that in stocks, generally speaking. Land prices I would say suggest a greater degree of overvaluation,” Yellen said, according to an unofficial transcript of the hearing.
When Lucas asked how much the Fed’s quantitative easing had led to the increase in land prices, Yellen declined to comment, saying that she is not an expert on land prices.
Yellen’s comments came amidst press reports that land prices have declined in some areas and are likely to decline further. F
–the Hagstrom Report
Start a dialogue, stay on topic and be civil.
If you don't follow the rules, your comment may be deleted.
User Legend: Moderator Trusted User
The Montana Angus Tour was September 21-23, 2021 in the northern part of the state.