New York Federal Reserve President John Williams said Friday that high prices for stocks and other assets are justified in light of a growing economy and low interest rate landscape. With stocks pushing to new heights on valuations not seen in decades, and as corporate bond yields plunge, the central bank official said he's not worried about current pricing. "Market participants and investors around the world are looking ahead through this year and looking into an economy that hopefully have a pretty robust recovery and a strong expansion over the next several years, which would support stronger valuations," Williams told CNBC's Steve Liesman during an interview on "The Exchange." Major averages have managed to build on 2020's gains despite some nerve-jangling volatility. Fed policy of low rates and continued asset purchases often is cited as a driving factor in prices for risky assets. Earlier in the day, the Fed's semiannual monetary policy report to Congress noted that "asset valuation pressures have returned to or...read more...