As part of our CRA responsibilities, the Federal Reserve, together with the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency, has made it clear that banks will receive CRA recognition for lending to, investing in, and providing services to workforce development initiatives.
At the same period in Japan, a similar series of macroeconomic policy measures called the “Takahashi Economic Policy”, named after the finance minister who took the initiative, were implemented. In these policies, an exit from the gold standard enabled foreign exchange rates to adjust in line with actual economic conditions, and macroeconomic policies that combined aggressive fiscal and monetary policies were implemented.