Introduction
Thank you for joining us today. Thank you also for your support for the Bank of Japan and its Kushiro Branch and Obihiro Office.
I. Economic Activity and Prices
Let me begin by discussing the outlook for Japan’s economic activity and prices. One factor that could sway the outlook is the direction taken by the new U.S. administration.
The Philosophy and Policies of the New U.S. Administration
Eight months have passed since the new U.S. administration took office, and I tend to believe I have learned a lot about its approaches. However, the unexpected developments I face almost daily make me realize that there are still things to be learned.
So, I am still in the process of formulating my view, but if I could offer some personal and tentative reflections, I would argue that there are three characteristics that define the current administration’s way of thinking.
First, the administration adopts a holistic approach and treats political, economic, and cultural matters, as well as domestic and international affairs, as integral parts of a single, inseparable policy agenda.
