Bessent says a ‘disorderly yen’ would risk higher U.S. rates
- On Friday, Treasury Secretary Scott Bessent accused Senator Elizabeth Warren of misunderstanding the recent United States intervention in the Japanese yen, dismissing her concerns about potential repayment risks.
- In her inquiry, Warren, the ranking Democrat on the Senate Banking Committee, questioned the Treasury Department's use of the Exchange Stabilization Fund, comparing the intervention to a taxpayer-backed bailout of Argentina.
- Writing in a post, Bessent mocked Warren's "sciolistic letter" and claimed she "knows even less about foreign exchange markets than she does about banking," asserting the Treasury exchanged assets without extending credit.
- Senate Banking Committee Democratic spokeswoman Saloni Sharma urged Bessent to abandon "petty grievances" and focus on "reducing the cost of living for American families struggling in President Trump's economy."
- The intervention marked the first coordinated United States and Japan effort to strengthen the yen since 1998, with Japan spending about $96.5 billion to support its currency through August 26.
24 Articles
24 Articles
Treasury Sec. Scott Bessent Schools Elizabeth Warren – Offers Her ‘Foreign Exchange for Dummies’ * The Gateway Pundit * by Mike LaChance
Treasury Secretary Scott Bessent recently smacked down Massachusetts Senator Elizabeth Warren and it was a thing of beauty.
U.S. Treasury Secretary Scott Besant cited the possibility that yen instability could trigger a rise in U.S. interest rates as the rationale behind last month's unusual intervention to buy yen. According to reports from Bloomberg and others on the 28th (local time), in a letter dated the 27th sent to Democratic Senator Elizabeth Warren, Secretary Besant [stated]
(New York = Yonhap News) Correspondent Lim Soo-jung = U.S. Treasury Secretary Scott Besant, regarding the unusual U.S. intervention to buy yen last month, stated that the rapid instability in the yen market is the U.S....
Bessent Accuses Warren Of Misunderstanding Treasury’s Yen Intervention
WASHINGTON (VINnews) — Treasury Secretary Scott Bessent on Friday accused Sen. Elizabeth Warren of misunderstanding a recent U.S. intervention in the Japanese yen, saying the Massachusetts Democrat wrongly treated a currency purchase as a loan that Japan would have to repay. Bessent posted the remarks on X after releasing a letter dated Thursday that answered […]
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