Looking forward, following many years of rising valuations on the back
of aggressive monetary policy, I believe market returns are likely to be more muted in 2016.
Looking forward, following many years of rising valuations on the back
of aggressive monetary policy, I believe market returns are likely to be more muted in 2016.
Finally, we believe that adding fiscal stimulus this late in the business cycle warrants concern, because any sign of weakening growth likely will need to be addressed through more
aggressive monetary policy in the future, at least in the short term.
But shouldn't we also consider the costs associated with a
more aggressive monetary policy of the kind adopted at the last FOMC meeting, especially when we are using non-traditional monetary policy tools?
They also inhibited the required rebalancing of global demand after the crisis, increasing the need
for aggressive monetary policy responses by the United States and other advanced economies.
Federal Reserve Chairman Ben Bernanke knew Milton Friedman and insists the famed University of Chicago economist would have backed the Fed's
aggressive monetary policy response to the current crisis, a point he made in his recent Jackson Hole speech.
The yen has weakened 13 percent over the past three months to about 89.65 per dollar on expectations of
aggressive monetary policy easing by the Bank of Japan (BOJ).
The yields on these extremely short - term vehicles just about disappeared as the Federal Reserve's program of bond - buying, known as Quantitative Easing, and
other aggressive monetary policy measures drove down rates.
Japan's government also nominated BOJ official Hiroshi Nakaso and economics professor Kikuo Iwata, who is also a proponent
of aggressive monetary policy, to the two deputy governor posts at the central bank.
As far back as 2002, while vice minister, Kuroda used an opinion column in the Financial Times, co-written with his deputy at the finance ministry, to call for «
aggressive monetary policy» from the central bank, including an inflation target, aimed at «drastically changing price expectations.»
Last month, the BOJ adopted a 2 percent inflation target and pledged to carry out an open - ended asset purchase program from next year, bowing to pressure from Japan's new Prime Minister Shinzo Abe to adopt
an aggressive monetary policy to end years of deflation.
Since November, just before elections in December that bought the ruling Liberal Democratic Party (LDP) to power, Abe has pushed for bold measures and
an aggressive monetary policy to revive the Japanese economy, which is in recession and plagued by years of deflation.
BOJ Governor Masaaki Shirakawa's term expires in April and the appointment of his successor is in the spotlight given the pressure on Japan's central bank to pursue
an aggressive monetary policy.
The Bank of Japan (BOJ) entered a new era on Tuesday, unveiling
an aggressive monetary policy aimed at pushing Japan's economy out of a slump.
One could retort because of
an aggressive monetary policy, a natural rebound from a historic downmove, the inevitable new creation from the explosion of wireless technology, the stimulus, etc..
Yet even with the U.S. Federal Reserve [3]'s
aggressive monetary policies, the recovery (both in the United States and around the globe) has fallen significantly short of predictions and has been far weaker than its predecessors [4].
Hedge fund managers like Greenlight Capital's David Einhorn constantly harped about the artificial «sugar high»
the aggressive monetary policy stimulus was inflicting on both markets and the economy.
When they see the Fed running
an aggressive monetary policy in the face of rising inflation and a weak dollar, it makes their heads spin, as they contemplate the hard choices the weak dollar forces on them.
We have
an aggressive monetary policy, but one designed to stimulate hurting areas, and not the economy as a whole.
«As we see it, the traditional view of a trade - off between employment and inflation lacks solid empirical support in recent decades, and
aggressive monetary policy to ward off a potentially overheating economy may do more harm than good.