Market participants should use the remaining time to assess the implications of using the rate in financial contracts and issues that could potentially hinder their transition away from Jibar.
Thus, I do not view the Japanese experience as evidence against the general conclusion that U.S. policymakers have the tools they need to prevent, and, if necessary, to cure a deflationary recession in the United States. Conclusion Sustained deflation can be highly destructive to a modern economy and should be strongly resisted.