Your comment seems to imply a causal relationship between monetary policy and stock valuations, which is the type of relationship economists investigate: https:

Your comment seems to imply a causal relationship between monetary policy and stock valuations, which is the type of relationship economists investigate: https://www.researchgate.net/publication/322006131_A_Study_on_the_Relationship_between_Monetary_Policy_Variables_and_Stock_Market https://www.researchgate.net/publication/322006131_A_Study_o... I don't know enough about the data to have an opinion. I do know that there are times in history when companies have sustained P/E ratios above 100 for many years (see Japan in the 1980s). You might be right, but from what I've seen, 100x P/E ratios usually come back down to earth.