The wealth-to-income ratio in the U.S. has been in a boom-bust cycle since the mid-1990s. The 1999-2000 tech bubble provided an example of such a cycle. During remarks at the Emerging Venture Leaders Summit on June 30, St. Louis Fed President James Bullard discussed what has recently revived talk of a bubble, in particular regarding the technology market. While his view is that low interest rates tend to feed bubbles, he acknowledged reasons why tech today is not an exact repeat of the 1990s.
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