Janet Yellen (ジャネット・イエレン), who previously served as US Treasury Secretary and Fed Chair, said in a CNBC interview that the effects of coordinated US-Japan intervention would not last long and indicated that a Bank of Japan rate hike could also be an option for correcting the yen's weakness.
In a CNBC interview, Janet Yellen (ジャネット・イエレン) said of coordinated US-Japan foreign-exchange intervention that "its effects rarely last long and it needs to be accompanied by a policy shift."
She said foreign-exchange intervention "should be rare" and expressed a negative view of the Japanese government's policy response on the grounds of excessive market volatility.
She also said that, given the interest-rate differential between Japan and the United States that has driven the yen's weakness, a Bank of Japan rate hike could be an option for correcting the yen's weakness. She added, "If Japan does not want this situation, it has the means to address it itself."