As we anticipate our eventual withdrawal from the Fed's bond-buying spree, I just can't put the image of that convulsing young man out of my head. I fear that the Fed's quantitative easing has acted like a narcotic over the past several years, putting our economy into a dreamy, feel-good state of near-zero interest rates and lofty stock and bond prices, even as its corpus -- the part that actually makes and sells stuff -- has been ailing. So I'm glad that the Fed is reducing the dosage, because it's time we find out if the body economic has truly healed or whether it has underlying diseases that still need to be treated.
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