People who know him say Kazuo Ueda is a pragmatic policymaker-type academic who can adjust his views on monetary policy flexibly, making him hard to brand as either a hawk or a dove.
His academic credentials suggest he is fit for the job. At MIT, he studied economics under Stanley Fischer, whose students include former US Federal Reserve chair Ben Bernanke and former European Central Bank president Mario Draghi.
People who know him say Ueda is a pragmatic policymaker-type academic who can adjust his views on monetary policy flexibly, making him hard to brand as either a hawk or a dove. He is a good listener and a consensus-builder, rather than a leader with a strong view on the direction of monetary policy, they say.
A fan of the Tokyo Yakult Swallows baseball team who likes going out for drinks with colleagues and former schoolmates, Ueda is described by associates as approachable and open-minded, as well as being a sharp-minded theorist who favors empirical analysis and data. “He’s always calm and never loses his temper. He’s great at finding the middle ground and won’t get in the way unless absolutely necessary,” said a former BOJ official who worked at the bank when Ueda was board member.
But he also pointed to the difficulty of maintaining yield curve control when inflation perks up and the potential flaws of the policy, suggesting the days of YCC may be numbered.
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