U.S. Department of the Treasury

In Japan, domestic demand has not fully recovered since the consumption tax was increased in March 2014, and contracted further in the second quarter of 2015. Private consumption is still below its end-2013 level. In this environment, strict adherence to deficit-reduction targets could result in prematurely aggressive fiscal consolidation and threaten Japan’s economic recovery and escape from deflation. Recalibrating fiscal policy to support economic growth and minimize fiscal drag would help avoid overburdening monetary policy and reliance on yen depreciation to support externally-driven growth. Over the medium-term, ambitious structural reforms facilitated by the Trans-Pacific Partnership, including in the agricultural and services sectors, are needed to raise productivity and boost potential growth.

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2 Responses to U.S. Department of the Treasury

  1. shinichi says:

    Report to Congress on International Economic and Exchange Rate Policies

    U.S. Department of the Treasury
    Office of International Affairs

    October 19, 2015

    http://www.treasury.gov/resource-center/international/exchange-rate-policies/Documents/2015-10-19%20(FXR)_FINAL.PDF

  2. shinichi says:

    (sk)

    こういうレポートをアメリカの日本に対する圧力という人がいるけれど、本当にそうなのだろうか。

    私には、ただの客観的で論理的なレポートにしか思えない。日本のどこかにいる人にとって不都合な事実が書かれると、それを圧力と言って否定する。それだけのことではないのだろうか。

    都合が悪ければ風評被害と言い、またほかのところで都合が悪ければ圧力と言う。

    人のせいにするのはたやすい。

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