Earlier in the conference he had stressed that falling risk premiums had boosted the prices of stocks and bonds as well as housing, and warned that history suggested that at some point there could be a sharp rise in risk premiums and a drop in prices.

• 在会议期间，他较早时曾强调说，日益下降的风险溢价推动了股票、债券和住房价格，他还警告说，历史记录表明，到某个时候风险溢价会出现急剧上升，价格出现下跌。