Mark Thoma : The most common mistake that new companies make is focusing on the next big thing. Thoma : It 's good that the stock market is doing well , but it 's not a reliable predictor of economy . He says Federal Reserve 's policy of quantitative easing has contributed to Dow 's rise . Thoma : General optimism has also helped push the stock market up .
Mark Thoma : The latest Dow number is not really a record when adjusted for inflation . Thoma : It 's good that the stock market is doing well , but it 's not a reliable predictor of economy . He says Federal Reserve 's policy of quantitative easing has contributed to Dow 's rise . Thoma : General optimism has also helped push the stock market up .