Janet Yellen on high levels of corporate debt

You had investors that were reaching for yield and wanted to hold securities that they thought were safe, but that had reasonably high yields. There are a lot of investors in this low interest rate environment who are reaching for yield...  If the economy experiences any kind of negative shock where rates go up more than expected there will be a lot of corporate bankruptcies, a lot of distressed credit crunch a lot of downgrading of loans, a lot of investor losses.

~ Janet Yellen, Q&A after speech at Women in Housing and Finance holiday event, "Janet Yellen is worried about the next financial crisis," MarketWatch.com, December 13, 2018