Nov 16 (Reuters) - San Francisco Federal Reserve Bank President Mary Daly said Tuesday that stock prices are “euphoric” but that at bottom they reflect optimism about the post-pandemic future.
“It’s betting that people are going to be ready to go once the pandemic is behind us,” Daly said at the Commonwealth Club in San Francisco, adding that while prices may suggest too much enthusiasm, that’s preferable to too little enthusiasm. “We have a lot of uncertainty globally, and that’s the wildcard.”