Rebalancing economic policies: Monetary, fiscal, wage and trade policies

Monetary policy offsets the anomalies of other economic policies: income distribution at the expense of employees in the United States and Japan; over-restrictive fiscal policy in the euro zone; protectionism in the United States. This has led to a monetary policy that is so expansionary that it is becoming dangerous while creating a number of imbalances. It would be far more effective to share the burden of stimulati ng demand between all economic policies.