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Japan’s Comeback: Why the “Lost Decades” May Finally Be Ending

Bloomberg Markets
Friday, February 20, 2026 at 10:33 PM
~4 min read
Monetary PolicyInflation

Original Report

For more than 30 years, Japan’s economy was defined by deflation, negative interest rates, and economic stagnation. Now inflation has returned, corporate governance reforms are gaining traction, and...

For more than 30 years, Japan’s economy was defined by deflation, negative interest rates, and economic stagnation. Now inflation has returned, corporate governance reforms are gaining traction, and investors are taking a fresh look at Japanese markets. We speak with Apollo CEO Marc Rowan, Japan Exchange Group CEO Hiromi Yamaji, and Mireya Solís of the Brookings Institution to examine whether Japan is finally breaking free from the so-called ‘lost decades,’ and what could derail the comeback. (Source: Bloomberg)

Glass House Analysis

Inflation is the silent tax that erodes purchasing power, hitting hardest those who can least afford it. When grocery bills rise faster than wages, families face impossible choices between food, medicine, and rent. Unlike market volatility that mainly affects investors, inflation touches everyone who buys groceries, fills a gas tank, or pays rent.

Corporate decisions reverberate through local communities—a merger might mean headquarters relocating, a restructuring could eliminate jobs, and strategic shifts affect suppliers and service providers in countless towns. Behind quarterly earnings numbers are real employment decisions, investment choices, and community impacts that shape the economic landscape of regions across the country.

The implications extend beyond the immediate news cycle. Every economic development creates ripples that affect employment, prices, and opportunities in ways that may not be immediately visible but are deeply felt. By tracking these connections, we can better understand how the economy truly works—not as an abstract machine, but as a human system shaped by and shaping the lives of millions.

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