Professor Takatoshi Ito, director of CJEB's Program on Public Pension and Sovereign Funds, professor at the School of International and Public Affairs at Columbia University, wrote the Project Syndicate article "The Challenge of Monetary Tightening." Professor Ito states in the article that, "The US Federal Reserve’s latest interest-rate hike is just one more step on the long and difficult road away from quantitative easing. While the Fed and other central banks, such as the Bank of Japan, must complete the journey, governments must refrain from politicizing the pitfalls that await."