What this means is that, even with today's very low unemployment rate, the labor market might not be as tight and inflationary pressures not as strong as I once would have thought. I am certainly not alone in this thinking. Over the past several years, most FOMC participants have been reducing their individual estimates of the longer-run level of the unemployment rate.
In view of those examples abroad and the current situation of Japan’s financial system, an argument has been put forward that public funds should be utilized for the early and fundamental solution of the nonperforming loan problem, triggering serious debate in the Government and Diet.