Martin Feldstein, one of the most influential Republican economists of the last 40 years, is warning that the stock market is poised to plunge.
That could drag down the U.S. economy, Feldstein warned.
In Wall Street Journal column with the headline “Stocks Are Headed for a Fall,” Feldstein argued that years of cheap money from the Federal Reserve has produced an overvalued stock market. He expects stocks to tumble as interest rates on bonds start to rise.