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"I'm Surprised The Market's Not Down More" | Aswath Damodaran
Forward Guidance
Do Central Banks Have an Effect on Valuation Prices?
Central banks can have an effect on that interest rate by going in and doing things like quantitative easing. Professor: The effect is actually a lot milder than you think. In the last 14 years, my estimate is the fed has made rates about 30 bases points lower than it should be with their quantitative easing. That subsidyis being paid by savers in fixed income securities rates. And er that is good for stocks. Because, in a sense, b it's like subsidizing investors. If it ultimately paysit shows up as higher inflation. Nothing is costless in this world.
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