Lesson for Steven Pearlstein: Economies Ordinarily Grow

Steven Pearlstein is usually pretty astute in his comments on the economy, but not today. In his complaint about Yellen's lose monetary policy he tells readers:

"With stock and bond prices back around record levels, however, and the recession long since ended, output, employment and business lending are above where they were at the height of the bubble. That is why the Fed has been winding down the extraordinary measures it took during the recession of buying up vast quantities of Treasury an...