Joseph Wang & George Goncalves on Rates, Tariffs, Fed’s Balance Sheet, and Yen Carry Trade
Monetary Matters with Jack Farley
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US Dollar and Japanese Yen: A Financial Tug-of-War
This chapter explores the intricate relationship between the US dollar and the Japanese yen, focusing on interest rate differentials and their global implications. It discusses the volatility of the yen carry trade and the impact of U.S. interest rates on global financial stability, particularly for countries dependent on dollar-denominated debt. Historical contexts and potential future concerns are examined, emphasizing how current U.S. monetary policies may influence Japanese investments and broader international markets.
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