Markets feel fully valued in the US: Vanguard CEO

The economy continues to chug along, and Vanguard CEO Bill McNabb told Fox Business’ Maria Bartiromo that the U.S. markets feel “fully valued,” adding that they are “much more cautious.”

“The economy continues to move at a modest pace, and we see that continuing. We are watching inflation, wages, in terms of the markets,” McNabb said, adding that, “when we look out over the next decade, we are much more cautious on what we think the next 10-years will bring.”

Directing his attention to the ETF markets, he noted that “paying more for investments doesn’t get you a better result.” He said that in the next 10 years, the trend will be that high cost funds will suffer.

“There will continue to be price competition, and the costs get lower,” he noted.