Alibaba IPO Is ?selling into a market that is very rich?

Dallas Federal Reserve President Richard Fisher tells Fox Business that the Alibaba IPO is ?selling into a market that is very rich?

Dallas Federal Reserve President Richard Fisher spoke with FOX Business Network?s (FBN) Maria Bartiromo about the Alibaba IPO today, saying Executive Chairman Jack Ma ?is selling into a market that is very rich; we have helped make it so at the Federal Reserve? and that it is ?good timing, I would say, smart guy.? Fisher went on to comment about his dissenting at the Federal Reserve meeting this week saying, ?I?m not worried about inflation right now? and that ?I do think there are some signs of excess in the financial markets.? When asked about rate hikes Fisher said, ?I personally expect it to occur in the spring and not in the summer.?

Excerpts from the interview are below:

On Alibaba:

?He is of course selling into a market that is very rich; we have helped make it so at the Federal Reserve.? I think my personal view, having been in the business is, of course, you never fight the Fed, but we have been extremely helpful. Remember after that March ’09 bottom, we’ve come up over 2.5 times.? So good timing, I would say; smart guy.? And the question is, of course, how long is this going to be sustained and the markets will make that decision.?

Source: Fox Business News