Japan offers a cautionary tale on the risks of infrastructure-based stimulus.

ECONOMIST: The economy

But for the rest, the recovery in manufacturing and housing in swing states owes more to the rhythms of the business cycle and global conditions, or to broad-based federal stimulus and easy monetary policy.

ECONOMIST: The economy

And inflation worries sparked by the Federal Reserve's stimulus program have ebbed, disappointing some investors who bought gold as a hedge against broad-based price increases.

WSJ: Gold Plummets to Two-Year Low