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Diana Furchtgott-Roth: How the Fed has juiced the stock market

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The stock market market may be hitting record highs, but Carnegie Mellon economics professor Allan Meltzer is worried. "We're in the biggest mess we've been in since the 1930s," he told me when I visited him in Pittsburgh last month. "We've never had a more problematic future." As America's foremost expert in monetary policy, Meltzer, my former colleague at the American Enterprise Institute for...

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