It's not clear what you mean by "assets". Stock prices tend to reflect growth expectations, so higher prices today imply that real incomes are expected to incre

It's not clear what you mean by "assets". Stock prices tend to reflect growth expectations, so higher prices today imply that real incomes are expected to increase. Other assets are almost the other way around - they increase in price when future interest rates are expected to be lower, which is associated with stagnation and lower growth. (The latter is why the argument in the article does not even wholly makes sense, IMHO. You don't raise rates in order to get some "room" to slash them in the future; you do it because if you don't, and market rates of return ("natural" rates) are trending higher due to improved growth, inflation will eventually spiral out of control. It's a bit like trying to balance a pencil on your hand, and keep it from falling.)