Japan market interventions will not work forever: Kenneth Rogoff

NEW YORK -- With the Japanese yen hovering at weak levels against the dollar and showing no sign of strengthening significantly, the government is taking steps to intervene and buoy the currency.

"I think that when you have extreme changes like this, there's some logic to have a short-term intervention, but it's not going to work forever," said Harvard University professor Kenneth Rogoff, who previously served as chief economist and director of research at the International Monetary Fund.