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Cablegate: Tokyo Media Reaction - Reappointment of Fed Chairman

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P 270417Z AUG 09
FM AMEMBASSY TOKYO
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UNCLAS TOKYO 001972

SIPDIS

STATE FOR I/RF, PA/PR/FPC/W, IIP/G/EA, EAP/PD, R/MR, EAP/J, EAP/P,
PM;
USTR FOR PUBLIC AFFAIRS OFFICE;
TREASURY FOR OASIA/IMI;
SECDEF FOR OASD/PA;
CP BUTLER OKINAWA FOR AREA FIELD OFFICE;
PACOM HONOLULU FOR PUBLIC DIPLOMACY ADVISOR

E.O. 12958: N/A
TAGS: OIIP KMDR KPAO JA
SUBJECT: TOKYO MEDIA REACTION - REAPPOINTMENT OF FED CHAIRMAN
BERNANKE

1. LEAD STORIES: Top stories on Thursday morning included an Asahi
prediction for the August 30 general election in Japan that the
largest opposition party DPJ could win as many as 320 seats,
two-thirds of the total seats in the Lower House.

2. "Next Four Years to Be Challenging" The liberal Mainichi
editorialized (8/27): "There seems to be a prevailing view that the
decision to reappoint Federal Reserve Chairman Bernanke was
appropriate, as his swift and bold dealing of the financial crisis
was evaluated highly.... He will face real challenges in the next
four years, though.... He will first need to boost the economy to
make it sound and stable. He will also need to determine when to
wrap up the emergency measures."

3. "Swift Settlement Aimed at Achieving Market Stability" The
moderate Yomiuri wrote in an editorial (8/27): "It was a swift
settlement that offered reassurance to the markets.... The markets
place great confidence in Bernanke, and support for his
reappointment was strong. The decision by the President was
appropriate.... However, Chairman Bernanke will face many challenges
in his second term. It is certain that he will have difficulties in
dealing with those challenges."


ROOS

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