Megan Greene recently wrote [the] “Bank of Japan Needs the Courage to Change Course” at the Financial Times. I would summarise the piece as a fairly conventional analysis discussing the apparent “need” to end yield curve control (YCC). The statements at the end raised the eyebrows of an MMT proponent that forwarded the link to me. For example:
Can you elaborate on this statement, I'm not sure what you imply -
There was essentially no (conventional) alternative, since the main effect of QE was to fuel crackpottery.
QE - does nothing for the economy, but drove crackpots nuts (“money printing!”). So nothing else to do, other than pin bond yields at a low level.