Japan's Prime Minister Fumio Kishida announced a $113 billion package to cushion the economic blow from rising inflation. The package includes temporary cuts to income and residential taxes, subsidies to curb gasoline and utility bills, and tax cuts. The rising cost of living is partly blamed for pushing down Kishida's approval ratings, piling pressure on the prime minister to take steps to ease the pain on households. Inflation, fueled by rising costs of raw materials, has kept above the central bank's target of 2% for more than a year, weighing on consumption and clouding the outlook.

But: again we see stimulus ''fighting'' inflation. Keyensian stupidity repeats itself again and again...