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Tag: can’t see bubbles

Janet Yellen Gives Her Clearest Comments Ever About How She Missed The Crisis And How She Sees The World

In Nicholas Lemann's profile of Fed Chair Janet Yellen in this week's "New Yorker," Janet Yellen says she knew the housing market was dangerous before the financial crisis. "In 2005 and 2006, [Yellen] began to be concerned that there was a dangerous bubble in in the housing markets," Lemann writes. From Lemann's profile: "'I'm sorry that light bulbs didn't go off in my head a couple of years [...]