Columbia University's Randall Jones on Japan's New BOJ Leadership

The video discusses Japan's monetary policy, focusing on Mr. Wada's potential role in engineering a soft landing as policies normalize. It highlights the challenges of yield curve control and the importance of gradual changes to avoid market disruptions. The discussion also covers inflation and wage growth, emphasizing the need for a virtuous cycle of wage increases to sustain 2% inflation. The video concludes with insights into the team assembled to manage these policies and the importance of fiscal policy in the process.

How do labor shortages in Japan affect wage growth and inflation?

What are the expectations for wage negotiations in March and April, and how might they impact inflation?

What is the role of the deputy governors in the context of Japan's monetary policy?