The 2000 tech bubble had the highest valuations in Mark's lifetime with Fed funds at 5% and 10-year at 7%, and the 2008 financial crisis featured the highest quantity and worst quality of mortgages during the three preceding years when Fed funds was at 5% average, yet we call the Fed rates 'easy' in hindsight.

factualpending

Speaker

Mark Da

Evidence Quote

the biggest bubble in my lifetime with the highest valuations going into it fed funds was at 5% and the 10e was at 7%

Source

The Crisis In Monetary Policy: It Doesn't Matter That Much | Mark DowForward Guidance
Created: 8/11/2026, 1:22:08 AM

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