A price cap would be aimed at curbing the war’s impact on gas and energy prices. Japan, which imports almost all its oil, has suffered an energy crunch recently partly because of the war in Ukraine and a weakening of the yen against the U.S. dollar.
The statement from the Treasury Department said Japan and the U.S. will also “consult closely on exchange markets and cooperate as appropriate on currency issues.” Yellen is making her first visit to Asia as treasury secretary. She was chair of the U.S. Federal Reserve from 2014-2018.
another one from the dark side of Yale...
Advise Japan not to blindly follow suit😄
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