US Treasury Secretary Scott Bentsen said in an interview about the Japanese economy that the era of Abenomics is over and it is now the time for Takainomics, pointing out the yen weakness problem caused by long-term low interest rate policies. He expressed his trust in Bank of Japan Governor Kazuo Ueda, indirectly urging a rate hike. Bentsen also expressed concerns about the recurrence of the Asian currency crisis regarding the joint yen buying intervention by the US and Japan. The Japanese government is pushing for a reduction in food consumption tax, but there are concerns that this could lead to an increase in fiscal burden and inflation.
