There’s nothing new in the article/editorial:
Japan’s new prime minister, Shinzo Abe, has promised to force the Bank of Japan to change its monetary policy, and he seems likely to get his way. Though Abe’s approach isn’t risk-free, he is mostly right.
Critics see Abe’s plan as a dangerous assault on the BOJ’s independence. These fears are overblown. The more pressing issue is Japan’s stagnant economy. …
Digging out of deflation isn’t easy, but the U.S. Federal Reserve, the Bank of England and other central banks have shown that unorthodox measures can work even when interest rates have been cut to nothing.
