Koichi Hamada is an adviser to Japanese PM Abe and a Yale University economist
As the headline to the post says, he supports reappointing Kuroda (Ks term expires in April of 2018)
Also:
- Says economic conditions are favourable in that there is no burden of inflation on the public & employment is expanding
- 2% price stability target is good, but having vigorous labor and production markets is more important
- Corporate earnings strong
- Domestic production growing
- In that sense, Abenomics has been a success.
Quantitative easing had a big impact in the early stage. The effects of monetary easing on the currency market peaked around 2015, but conditions remain favorable. Gov. Kuroda has performed well as a spokesman for the overall effort
Hamada was interviewed by the Nikkei
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Probably of most interest is his comment on the inflation target, that having a strong economy and thus a solid labour market are more important. I reckon we'll hear more about this and perhaps a winding back of the focus on the 2% inflation target in coming months.