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The Fed officially joins Bank of Japan in liquidity trap

Quantitative easing has lessons that even Japan has failed to learn

| Japan
Last week came the admission from U.S. Federal Reserve chairman Jerome Powell that many saw as inevitable: America is officially trapped below zero interest rates, along with the Bank of Japan.   © Reuters

William Pesek is an award-winning Tokyo-based journalist and author of "Japanization: What the World Can Learn from Japan's Lost Decades."

Jerome Powell might want to bone up on his Japanese-language skills as the U.S. Federal Reserve goes the way of peers in Tokyo.

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