The D Word Is Back

They call it the "D Word." For more than a decade--ever since the bubble burst in the early 1990s, sending prices for basic goods and services plummeting--Japanese prime ministers have been dreaming of a day when they could announce the end of deflation, a rare and crippling syndrome in which falling prices sap a nation's buying energy and investing confidence. Yet they also feared it. And so came the odd day in January when Japan's central bank retreated from declaring victory and decided not...
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