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Fed warns U.S. equity valuations 'well above' median
Reuters: The Federal Reserve on Tuesday delivered its starkest warning yet under Chair Janet Yellen that by its assessment U.S. stocks are pricey.
"Forward price-to-earnings ratios for equities have increased to a level well above their median of the past three decades," the Fed's twice-annual Monetary Policy Report, the U.S. central bank concluded.
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