Identifier
Created
Classification
Origin
06TOKYO610
2006-02-03 06:28:00
UNCLASSIFIED
Embassy Tokyo
Cable title:
MEDIA REACTION NEW FED CHAIRMAN - TOKYO
how-toVZCZCXRO4751 PP RUEHFK DE RUEHKO #0610 0340628 ZNR UUUUU ZZH P 030628Z FEB 06 FM AMEMBASSY TOKYO TO RUEHC/SECSTATE WASHDC PRIORITY 8236 RUEKJCS/SECDEF WASHDC PRIORITY RUCPDOC/USDOC WASHDC PRIORITY RUEATRS/DEPT OF TREASURY WASHINGTON DC PRIORITY RUYNAAC/COMNAVFORJAPAN YOKOSUKA JA PRIORITY RHHMUNA/HQ USPACOM HONOLULU HI PRIORITY RHHMHBA/COMPACFLT PEARL HARBOR HI//N541// PRIORITY RHMFIUU/HQ PACAF HICKAM AFB HI//CC/PA// PRIORITY RUHBANB/OKINAWA FLD OFC US FORCES JAPAN CP BUTLER JA PRIORITY RHMFIUU/COMUSJAPAN YOKOTA AB JA PRIORITY INFO RUEHFK/AMCONSUL FUKUOKA 4408 RUEHOK/AMCONSUL OSAKA KOBE 7467 RUEHBJ/AMEMBASSY BEIJING 0389 RUEHMO/AMEMBASSY MOSCOW 0851 RUEHUL/AMEMBASSY SEOUL 6579 RUCNDT/USMISSION USUN NEW YORK 8674 RHEHAAA/NSC WASHDC
UNCLAS TOKYO 000610
SIPDIS
SIPDIS
STATE FOR I/RF, PA/PR/FPC/W, IIP/G/EA, EAP/PD, R/MR,
EAP/J, EAP/P, PM;
USTR FOR PUBLIC AFFAIRS OFFICE;
TREASURY FOR OASIA/IMI;
SECDEF FOR OASD/PA;
CP BUTLER OKINAWA FOR AREA FIELD OFFICE;
PACOM HONOLULU FOR PUBLIC DIPLOMACY ADVISOR
E.O. 12958: N/A
TAGS: OIIP KMDR KPAO JA
SUBJECT: MEDIA REACTION NEW FED CHAIRMAN - TOKYO
LEAD STORIES: Most Friday morning papers front-paged
follow-up stories on the Japan Defense Facilities
Administration Agency (JDFAA) bid-rigging scandal, saying
that an arrested former JDFAA official has admitted to
prosecutors that construction projects at the US Marine
Corps Air Station at Iwakuni and Sasebo Naval Base were
rigged.
UNCLAS TOKYO 000610
SIPDIS
SIPDIS
STATE FOR I/RF, PA/PR/FPC/W, IIP/G/EA, EAP/PD, R/MR,
EAP/J, EAP/P, PM;
USTR FOR PUBLIC AFFAIRS OFFICE;
TREASURY FOR OASIA/IMI;
SECDEF FOR OASD/PA;
CP BUTLER OKINAWA FOR AREA FIELD OFFICE;
PACOM HONOLULU FOR PUBLIC DIPLOMACY ADVISOR
E.O. 12958: N/A
TAGS: OIIP KMDR KPAO JA
SUBJECT: MEDIA REACTION NEW FED CHAIRMAN - TOKYO
LEAD STORIES: Most Friday morning papers front-paged
follow-up stories on the Japan Defense Facilities
Administration Agency (JDFAA) bid-rigging scandal, saying
that an arrested former JDFAA official has admitted to
prosecutors that construction projects at the US Marine
Corps Air Station at Iwakuni and Sasebo Naval Base were
rigged.
1. "Appointment of New Fed Chairman Bernanke: Dialogue
with the Bank of Japan Also Desirable" The conservative
Sankei editorialized (2/3): "There is a new chairman of
the US Federal Reserve Board (FRB) for the first time in
18-and-a-half years. Because former Chairman Greenspan
had such a lofty reputation, the appointment of the
younger Bernanke has been greeted by the market with both
hope and apprehension. We hope that Mr. Bernanke will
have a close dialogue with not only market players but
also with Japan's monetary authorities. Mr. Greenspan,
who served four US presidents, brought about a long
period of stable growth without inflation....
2. "Having overcome a number of financial crises through
deft policy management, Greenspan has been called a
'maestro,' and his carefully-planned 'dialogue with the
market' has been widely praised.... Mr. Bernanke, a
former board member of the Fed who also served as
chairman of the White House Council of Economic Advisers,
has sharply criticized Bank of Japan (BOJ) policy, saying
that it was the Japanese central bank's policy errors
that caused the nation's long-term economic slump. It has
also been reported that it was the ultralow interest rate
policy proposed by Bernanke, who learned from Japan's
failed monetary policy, that successfully prevented the
US from plunging into a deflationary crisis following the
collapse of the IT bubble in 2000...."
SCHIEFFER
SIPDIS
SIPDIS
STATE FOR I/RF, PA/PR/FPC/W, IIP/G/EA, EAP/PD, R/MR,
EAP/J, EAP/P, PM;
USTR FOR PUBLIC AFFAIRS OFFICE;
TREASURY FOR OASIA/IMI;
SECDEF FOR OASD/PA;
CP BUTLER OKINAWA FOR AREA FIELD OFFICE;
PACOM HONOLULU FOR PUBLIC DIPLOMACY ADVISOR
E.O. 12958: N/A
TAGS: OIIP KMDR KPAO JA
SUBJECT: MEDIA REACTION NEW FED CHAIRMAN - TOKYO
LEAD STORIES: Most Friday morning papers front-paged
follow-up stories on the Japan Defense Facilities
Administration Agency (JDFAA) bid-rigging scandal, saying
that an arrested former JDFAA official has admitted to
prosecutors that construction projects at the US Marine
Corps Air Station at Iwakuni and Sasebo Naval Base were
rigged.
1. "Appointment of New Fed Chairman Bernanke: Dialogue
with the Bank of Japan Also Desirable" The conservative
Sankei editorialized (2/3): "There is a new chairman of
the US Federal Reserve Board (FRB) for the first time in
18-and-a-half years. Because former Chairman Greenspan
had such a lofty reputation, the appointment of the
younger Bernanke has been greeted by the market with both
hope and apprehension. We hope that Mr. Bernanke will
have a close dialogue with not only market players but
also with Japan's monetary authorities. Mr. Greenspan,
who served four US presidents, brought about a long
period of stable growth without inflation....
2. "Having overcome a number of financial crises through
deft policy management, Greenspan has been called a
'maestro,' and his carefully-planned 'dialogue with the
market' has been widely praised.... Mr. Bernanke, a
former board member of the Fed who also served as
chairman of the White House Council of Economic Advisers,
has sharply criticized Bank of Japan (BOJ) policy, saying
that it was the Japanese central bank's policy errors
that caused the nation's long-term economic slump. It has
also been reported that it was the ultralow interest rate
policy proposed by Bernanke, who learned from Japan's
failed monetary policy, that successfully prevented the
US from plunging into a deflationary crisis following the
collapse of the IT bubble in 2000...."
SCHIEFFER