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The Federal Reserve Is Flying Blind on Inflation – The Wall Street Journal

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I never bought into the “Maestro” description of former Federal Reserve Chairman Alan Greenspan. Mostly because of, well, the 1987 crash, the ’94 bond massacre, his ’96 “irrational exuberance” speech, boosting the money supply before the nonexistent Y2K glitch, which poured gasoline on the dot-com fire, lowering interest rates in the early 2000s to chase the ghost of deflation and then not raising them fast enough to stave off the mortgage mania, which led to the financial crisis and Great Recession. Other than that, Mrs. Lincoln . . . It…

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