Japan’s growth in the 1980s was extraordinary, propelled by a booming stock market that quadrupled in value between 1983 and 1989, an accelerating economy with >5% GDP growth, and manageable inflation of around 3%. Three decades later, Japan’s stock market has not even come close to those 1989 highs, with severe deflation concerns plaguing the … More The Monetary Mistakes of Japan and Lessons for the Fed