Jerome Powell's comments on high US equity valuations led to a dip in the S&P 500 this week. The Shiller CAPE ratio and other metrics show the Fed chief is correct that valuations are high. Yet, rich valuations may not mean pain ahead for investors if earnings remain strong. Federal Reserve Chair Jerome Powell caught investors' attention on Tuesday when he said that the US equity market is "fairly highly valued." While it's never nice to hear the Fed chair speak in less-than-bullish tones, Powell' ...