Do higher stock and house prices produce higher growth as the Fed believes? If so, not much, if any. This explains the poor forecasting by the Fed and why it may be a good idea once again to prepare for a different outcome than the Fed forecasts.
https://ify.valuewalk.com/wp-content/uploads/2014/04/HIM2014Q1NP.pdf

Dollars Distort Our Understanding of Wealth
Most investors measure wealth in dollars — but what if the ruler itself is shrinking? Since 2000, the S&P 500 is up nearly 5x in dollar terms, yet priced in

