He had Health Issues in the past that he has managed well during his tenure as Prime Minister. He resigned abruptly the last time he was Prime Minister in 2007 because of his health condition. David he is the longestserving Prime Minister, but he was quite influential. One of the things bloomberg is concerned about is abenomics. He came in with three arrows. Was that a success . Sheila i think it is a mixed bag. I will leave it to the economist to delve into the details. There two details are two pieces of what he did manage to accomplish. One is structural reforms. He and his government were impressive in agricultural reform, one of the structural impediments to participate in the ttp, the regional trade pact. He tried to increase womens participation in the economy. Some people would have liked to see more women, but he managed to make some strides there. Progress in slight the labor market reforms he tackled, but he did not accomplish what the japanese wanted, which is to see their
Buying longer on that curve . If so, that will keep rates lower. The path we are leading down is not a good one. What the fed is trying to do is what every central bank is trying to do, which is engineer growth. Tyler george bory is with us now. Talk to me about what you have been noticing, your take on the big reflationary trade yesterday but then a little bit of a comedown in yields again today. George thank you for having me on, always great to be on the show. Powelll question is, is seismic shift, or more of the same . The reality is there are some significant factors here. The biggest is the acknowledgment that there has been a Material Change in the economy. Unemployment can go lower than policy makers expect without causing inflation. They have issue is, also kind of acknowledged there is a limitation of Monetary Policy. Those two factors we view as material. Shift,terms of a policy what they are likely to do going forward, it feels like it is very much same game. The way we are