Obama Refuses To Answer if He Thinks Stock Market in a Bubble

LIESMAN: “Stock market earlier. It’s now at near record levels almost every day. Are you concerned, there’s a bubble out there like we had in 2001 and 2008?”
OBAMA: “Well you know, I try to avoid commenting on the day-to-day trends in the stock market. I think what is true is — that the Federal Reserve has properly focused, on the need for us to bring unemployment down. The cost of unemployment, particularly long-term unemployment as well as unemployment for young people just getting started in their careers. That’s something that has devastating effects, on the economy for generations, or for decades to come. So I think Janet Yellen has said — this is a focus of ours right now. Inflation remains relatively low. What that does mean is, when you’ve got low interest rates, that there’s a lot of money looking for returns. And that’s probably boosted the stock market significantly. My estimation is, is that, you know, you’ve got a lot of savvy investors out there. You got people who recognize that what goes up can come down as well. I’ll leave it up to them to make determinations about, whether valuations and stock prices are too high. I’m more concerned about the day-to-day fundamentals. And if we get those fundamentals right, then I’m pretty confident that we can do very well in [Indecipherable].”