Yoshie Furuhashi wrote:
The main claim I heard is that the central bank in Japan was too slow to raise interest rates in the late 80s and tightened too fast in the early 90s, in comparison to the way the Fed has managed things here. Don't know if that's true, and don't know if a different policy could have made for a different outcome.
that's possible, but the Fed didn't and hasn't opposed bubbles at all. It may have raised rates, but that was for other reasons. -- Jim Devine / "These capitalists generally act harmoniously and in concert, to fleece the people." -- Abraham Lincoln
