Hatheway: Japan Is Too Small to Matter

The transcript discusses Japan's deflation and its limited impact on the global economy due to its size. It highlights the challenges of monetary policy in achieving inflation targets and suggests a shift towards fiscal policy. The concept of helicopter money is explored, and the potential for fiscal expansion in Japan, the US, and the UK is noted.

What role does fiscal policy play in the current economic environment according to the discussion?

In what ways might the economic strategies discussed affect risk assets in the market?