Japan Joins Global Easing

This column was published in Savannah Morning News.

History was made earlier this month when the Bank of Japan announced the world’s largest scale of monetary stimulus. International officials from the G20 and IMF have hailed the actions of Japanese Prime Minister Shinzo Abe and his recently appointed central bank governor Haruhiko Kuroda for making great strides to end Japan’s “lost decade” of deflationary woes. Japan now joins the ranks of the Federal Reserve and Bank of England in adopting measures of quantitative easing: A record $1.4 trillion of additional monetary base will be added within the next two years, an amount exceeding any country as a percent of GDP...