Consumer fear and tariffs: Why Powell’s stock market valuation warning is more dire now

When Federal Reserve Chair Jerome Powell said in September 2025 that stock valuations were "on the high side," there is no question that it raised a good number of eyebrows. The same can be said when he indicated that investors should be prepared for lower returns ahead. At the time, the markets largely shrugged off the comment, and the S&P 500 has...