Nobel Prize-winning economist Joseph Stiglitz said it would be premature for the U.S. Federal Reserve to reduce monetary stimulus even if there’s little evidence it helped the world’s largest economy. “It’s the only stimulus,” the Columbia University professor said in an interview at the World Economic Forum in Jordan May 25. “Clearly the economy is not back to normal, and to accept this as the new normal would be really wrong.” U.S. stocks dropped and Treasuries fell for a fourth week, the longest slide since August, after Chairman Ben S. Bernanke said the Fed may cut the pace of asset purchases if policy makers see ... (full story)