Ten years ago, Bernanke blistered the Bank of Japan for its caution, hiding “behind minor...

|By:, SA News Editor

Ten years ago, Bernanke blistered the Bank of Japan for its caution, hiding “behind minor institutional or technical difficulties in order to avoid taking action.” BOJ faced a situation broadly similar to today's Fed now, yet he now seems paralyzed, Paul Krugman asserts. (Bernanke's 1999 paper: "Japanese Monetary Policy: A Case of Self-Induced Paralysis.")