米国の利下げは必要なのか？！

The long-term interest rate in the United States fell from last year10月5%to this month3.8%,1.2%lower, and mortgage rates also7.9%to6.5%have declined. As a result, the mortgage refinance index released on 8/148/14increased by34.5%from the previous week to889, reaching its highest level in two years. Although the policy rate remains at5.5%, the decline in long-term rates is driving up housing prices and stocks, and the wealth effect is continuing to stimulate consumer spending in a virtuous cycle. This article examines the potential for a U.S. rate cut by comparing with the Japanese economy and assesses the future dollar-yen exchange rate.