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Updated: May 15, 2025
Even the venerable Wall Street Journal fell in this fashionable trap. In an inflationary turn of phrase, "moral hazard" is now taken to encompass anti-cyclical measures, such as interest rates cuts. The Fed and its mythical Chairman, Alan Greenspan stand accused of bailing out the bloated stock market by engaging in an uncontrolled spree of interest rates reductions. Greenspan."
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