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The Japan News/Yomiuri
The Japan News/Yomiuri
Politics
Akihiro Okada / Editorial writer for The Yomiuri Shimbun

Political Pulse / Price stability a long-unsolved conundrum for Japan

Haruhiko Kuroda Alan Greenspan Japan BOJ Inflation Stock Market US Federal Reserve Yomiuri Shimbun Monetary Policy
Akihiro Okada is an editorial writer for The Yomiuri Shimbun. (Credit: The Yomiuri Shimbun)

"Irrational exuberance" is a phrase widely used to warn about the risks of a bubble-like stock market.

Former U.S. Federal Reserve Chairman Alan Greenspan first used the term at a dinner and lecture in Washington on Dec. 5, 1996. He wanted to sound the alarm over an overheated stock market that could undermine financial markets and economic stability.

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