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Economist Martin Melkonian – Zero-Interest-Rate Policy Provides Artificial Support for Stocks

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martin melkonian

“Dow passes 17,000, and Long Island investors, experts react to milestone”

Newsday

This article looks at the new Dow record, but while many are celebrating, Economics Professor Melkonian says  the Federal Reserve’s zero-interest-rate policy is providing artificial support for stocks.

“Low interest rates on bonds have forced portfolio managers to move into stocks, he said, bidding up prices. “As a result, the market is hitting new peaks, but it’s not based on a firm foundation,” he said.

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