How to solve the stimulus-austerity gridlock

Commentary: Reining in health care costs would boost economy

Markets show justifiable concern at a steady flow of soft data all over the world, but it’s hard to figure disappointment that the Fed did nothing dramatic this week.

The Fed’s QE operations have been designed to pull down long-term interest rates, to prevent runs on banks, and to ease credit. In the last 80 days the run from Europe has accomplished Jobs One and Two, cutting 10-year T-note yields by one-third, and all but drowned the US system in cash.