Word: masaru
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Credit Fukui's success to unconventional thinking. His predecessor, Masaru Hayami, frequently claimed there was little he could do to stoke Japan's economic fires after he lowered interest rates to zero. But Fukui has boldly set out a series of unorthodox monetary-easing programs designed to counteract the country's crippling six-year bout of deflation, flooding the nation with cash. "Fukui has been activist and interventionist," says Shuji Shirota, an economist at the Dresdner Kleinwort Wasserstein investment bank in Tokyo. Fukui's efforts are having an impact: consumer-price deflation slowed to 0.3% last year, compared with...
...curb its ravages. Such posturing drew praise from experts ranging from Japan's economics czar, Heizo Takenaka, to the chairman of the U.S. President's Council of Economic Advisers, R. Glenn Hubbard. Front and center in Koizumi's new war is the Bank of Japan (BOJ), where Governor Masaru Hayami ends his five-year term on March 19. In a string of a barely veiled critiques, Koizumi has said he intends to appoint by month's end an "aggressive deflation fighter" to replace the unpliant Hayami...
...years and having two kids, Beat allots little psychic space for women in his public persona. His brother insists that for all of Beat's showbiz bravado, at his core he is a shy man who has trouble forging intimate bonds with his family and friends. He is, Masaru says, a lonely guy: "The one thing I wish for him is that he would get closer to his family, especially the children." Beat himself concedes he has been an absentee parent to his 17-year-old daughter and college student son. "I didn't know how to be a father...
...older brother, Masaru Kitano, a chemistry professor, says that Beat actually takes after their father. "Our father was shy and frustrated with his life. He didn't have a place in our home, so he turned to alcohol. He used to hit our mother, sure, but that was very common then...
Since the U.S. economy remains basically strong, Treasury officials say the rising yen is Tokyo's issue. And they've convinced Japan's major trading partners of that, not to mention the government of Prime Minister Keizo Obuchi. Everyone, that is, except Masaru Hayami, chief of Japan's central bank, who late last month got into a public spat with Tokyo's powerful Ministry of Finance because the Bank of Japan refuses to lower interest rates or print money to bring the yen back to earth...