> What specific federal funds rate would make stock prices "supported by fundamentals" rather than "inflated", and why in your view can't the Fed just set that

> What specific federal funds rate would make stock prices "supported by fundamentals" rather than "inflated", and why in your view can't the Fed just set that rate to avoid these problems? If I could conceive of a way of calculating the optimal federal funds rate, I'd be owed a nobel prize in both economics and physics. Even then, the Fed probably wouldn't listen to my advice.