Treasury's Lew: BOJ Needs to Use All Policy Tools

The video discusses the enactment of new trade legislation aimed at providing tools for monitoring currency practices to protect American workers and businesses. It highlights the importance of having high standards in trade agreements and addresses concerns about sustained trade imbalances. The video also examines Japan's monetary policy, emphasizing the need for a balanced approach using various policy levers while adhering to international agreements.

What is the primary goal of the new trade legislation mentioned in the video?

• To promote domestic manufacturing

• To reduce taxes for American businesses

• To provide tools for monitoring currency practices

• To increase tariffs on imports

Why is it important to monitor trade imbalances according to the video?

• To increase export tariffs

• To ensure fair currency practices

• To reduce import duties

• To promote local businesses

What unconventional monetary policy did Japan implement that is discussed in the video?

• Increased interest rates

• Negative interest rates

• Fixed exchange rates

• Currency devaluation

What does the video suggest Japan should do instead of relying solely on monetary policy?

• Increase tariffs

• Adopt a fixed exchange rate system

• Implement fiscal policy and structural reforms

• Focus on currency devaluation

According to the video, how has Japan adhered to international agreements?

• By increasing tariffs

• By reducing export duties

• By refraining from competitive devaluation

• By adopting a fixed exchange rate