Fed warns high asset prices could make investors vulnerable

FILE - In this June 14, 2018, file photo Federal Reserve Board Governor Lael Brainard participates in an open meeting in Washington. The Federal Reserve on Thursday, May 6, 2021, is warning that the U.S. financial system remains vulnerable to threats stemming from the global pandemic. Fed board member Brainard, who chairs the central bank's financial stability committee, said in a statement that the failure of Archegos “highlights the potential for nonbank financial institutions such as hedge funds and other leveraged investors to generate large losses in the financial system.” (AP Photo/Cliff Owen, File)