That's Tim Duy's opinion after reading 2003 Bernanke's speech on Japanese monetary policy. In that speech Bernanke basically eliminated just about all objections to the Japanese government acting in a very big way to get out of its economic funk.
Duy asks why Bernanke has not followed his own advice. Duy's answer: "only obvious evidence of deflation jusifies the use of aggressive policy. And with downward nominal wage rigidities, the US outcome may very well be one of persistent low inflation, not outright deflation like Japan". So, if we stay in this world of low inflation, Ben will hold off firing all his guns no matter how many people are suffering.
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