BUSINESSFORTUNE
Bessent’s Yen gamble is a warning sign — buckle up
U.S. Treasury Secretary Bessent and Japan’s Ministry of Finance intervened in currency markets to boost the yen, which Bessent claims is undervalued. The intervention included direct yen purchases and public statements, leading to a temporary yen strengthening. The article compares Bessent’s approach to historical currency manipulation by Russian finance minister Ivan Vyshnegradsky.
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Adjacent reporting
- Bessent’s yen intervention signals new era of US ‘currency activism’
- Bessent Says Yen Level Problematic for Japan, Other Currencies
- Bessent says U.S. backed Japan’s yen intervention to help stabilize Asia
- Bessent joins Japan to help reverse months of yen losses
- Yen Intervention Risk Rises on Reports of Katayama-Bessent Talks
- Analysis: Federal Reserve may be pulled into Bessent’s effort to support Japan’s yen