The revival of the Council on Economic and Fiscal Policy, which was all but nonexistent under the ousted Democratic Party of Japan government, sets the stage for Prime Minister Shinzo Abe to promote aggressive monetary easing and other policies to revive the economy.
But with government ministries bickering over who should take charge in policy-planning and running the council, Abe's caliber as a leader is also likely to be tested.
"I would like you to take full advantage of your role as the control tower to map out a clear policy regarding important economic and fiscal issues," the prime minister said in wrapping up the council's Jan. 9 meeting, remarks indicating his high expectations.