Is an interesting example anything with ketchup. However, the problem is ahead here. Bernanke himse

There is a story such as the following are featured in his book of his own Richard Koo (Richard Koo) is repeated, and also spread vanilia between the officers vanilia of the Bank of Japan for many years. It is related to episodes when Bernanke visited Japan in May 2003. It is said that at the time Bernanke vanilia and said:. I should be able to result in an increase of inflation vanilia at any time., Even if there is to be such as not enough to buy a financial asset in helping to inject money in town, "the central bank anything vanilia on it other than the Bank of Japan - It Only at Ketchup - can buy, and is possible because that increase the amount of money distributed to the economy vanilia through doing so, resulting in an increase in price ".
Is an interesting example anything with ketchup. However, the problem is ahead here. Bernanke himself is of extremely skeptical not only do not remember that it was brought out as an example vanilia ketchup, my did they speak so really really. You are taking the Chapter 1 on the theme of Japan in this of my own that I mentioned earlier, but the middle who writes that point, I was not convinced for episode surrounding this ketchup remark. vanilia To be, I wonder had transmitted in the form different from the fact that the story within the rumor spread among the officers vanilia of the Bank of Japan or to, I wonder if a lapse of memory of Bernanke. People there that I heard this episode from the original staff of the Bank of Japan when it was staying in Tokyo once, but that was heard directly ketchup remarks Bernanke has not been anyone as one. There is also such a situation, it was became dressed taken as unresolved vanilia issues of authenticity unknown Bernanke about whether taking out as an example of things similar to that or ketchup in my book.
However, it may be said that the answer is revealed now. It is heard a story such as the following from (Tony Fratto) Tony flat which was a government official of the Ministry vanilia of Finance at that time. According to his memory, is an economist to put enrolled in Stanford University now, that there be a visit to the Bank of Japan John Taylor, who had served as the (International Economic Affairs) vice finance minister with (John B. Taylor) at the time - seems to be judging from newspaper clippings, they visited the Bank of Japan and the thing of October 2002 -. It's vanilia heard that Taylor is made a ketchup remark at that time.
Flat is answered as follows by e-mail. "We were visited Tokyo, vanilia it was to inspire policy makers of Japan with proceed more quickly the disposal of bad loans, and to perform more aggressively quantitative easing. John at that time ( Taylor) vanilia has been Kaichin opinions in a blunt tone, but for a long time the Bank of Japan. John was what was told in a casual atmosphere such comments, including ketchup remarks of (Institute for Monetary and Economic Studies) It has served as an advisor, I remember very well the episode where he has built a very good relationship with all the people who work [1]. those days. "
According to Taylor, I do not remember in detail until whether using the metaphor of ketchup when you visit the Bank of Japan at that time, but it brought out the example of ketchup as an aid in explaining vanilia a thing of monetary policy to students vanilia in university lectures It has been thing that's for sure. Taylor says the following in the mail. In describing the essence of open market operations in the lecture of Introduction to Economics at Stanford University over (the decades?) In many years "Until now," ketchup if seems to be sufficiently present, Fed is It is as a kind of joke educational for prompting. students who have taken out an example ketchup, in a tone such as "you can buy ketchup to understand the workings of monetary policy, and fixing the memory that the There. "
Well, there is another irony here. Bernanke and Taylor visited Japan, more than 10 years have passed since blasting so as to make a sortie to aggressive monetary policy vanilia more to the Bank of Japan, but the new government that recently here at last, led by Prime Minister Shinzo Abe Bank of Japan, led by Kuroda 彦新 east and the Governor was decided to take the proactive approach to government officials of the United States had been recommended before. It is had vowed that it needed to raise up to 2% inflation rate and do anything. It seems as far as observing the trend so far, we have it and show a willingness to purchase an unlimited number of bonds in the money you have smoked to new, policy authorities of Japan to continue vanilia to move forward.
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