Feldstein Says Fed's Been Dragging Feet on Rate Hikes

The video discusses the timing of rate hikes, suggesting that the ideal time was three years ago, but a move is expected in December. The US economy is considered healthy despite stagnant inflation, but asset prices are misaligned with historical norms, posing risks. The discussion highlights concerns about the potential impact of unwinding asset prices on consumer spending and overall economic activity.

What is the speaker's opinion on the timing of a rate hike?

How does the speaker describe the current state of the US economy?

What concerns does the speaker have regarding asset prices?

What is the significance of the price earnings ratio mentioned by the speaker?

What does the speaker suggest could happen if asset prices unwind?