This suggests that the prefecture possesses the latent strength to maintain its economy’s vitality even in the midst of such structural changes as the aging population and declining birth rate.
It has been argued, with some supporting evidence, that the Federal Reserve’s commitment to very low interest rates in 2003 and 2004 was too low for too long and contributed to the housing and credit boom and subsequent busts. Between August 2002 and January 2005 – two-and-a-half years – the federal funds rate was below the rate of core inflation.