Prices are an index and very rarely is the index not at an ath. Even in The periods you mentioned, the index was only off ath for a month or 3 and that’s mostly

Prices are an index and very rarely is the index not at an ath. Even in The periods you mentioned, the index was only off ath for a month or 3 and that’s mostly noise from Energy prices, so no it never reached a new equilibrium below where it was (that would be disastrous) https://fred.stlouisfed.org/graph/fredgraph.png?g=SF8B https://fred.stlouisfed.org/graph/fredgraph.png?g=SF8B