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Equity Prices

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The stock market is again hitting new highs almost daily. Some analysts think this means a bubble is about to burst, while others believe it heralds a “new economy” of strong growth with low inflation. A closer look suggests that evidence can be marshaled on both sides.

Suggested citation: “Equity Prices,” Federal Reserve Bank of Cleveland, Economic Trends, no. 98-04, pp. 07, 04.01.1998.

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