Greg had the headlines from IMF Chief Economist Maurice Obstfeld earlier
A bit more detail from Bloomberg now
Obstfeld seems content with Japanese policy:
- "We think that policy tools that are available -- the three arrows, plus perhaps attention to the wage-setting process in Japan through some sort of income policy, would be the ways to go to help the economy attain higher growth and a target inflation rate"
No, I'm not sure what it is he is smoking.
Anyway, so:
- "we don't view intervention as being a necessary or useful part of that package"
I'm sure the Japanese administration will have a different view if the yen strengthens from here.
More at Bloomberg here
His Blue Steel needs more work
