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A Cautionary Tale for Our Central Bank

To the Editor:

Randall W. Forsyth’s column brought up several important topics (“Uncle Sam’s Growing Intrusion Into the Private Sector Sets a Dangerous Precedent,” Up & Down Wall Street, April 17). The idea that the Bank of Japan’s purchase of equities since 2013 may be a “logical extension of its monetary policy” was shown to be a failure, as “the result has been a stagnant economy…kept alive by zombie companies and preventing the reallocation of their assets to more productive entities.”