Why Bessent Is Leaning on the Fed to Help Prop Up Japan’s Currency
A little-used Federal Reserve backstop built for the 2020 dollar shortage is being put to a use it was never designed for: bankrolling Japan’s defense of the yen. Treasury Secretary Scott Bessent wants the backstop made bigger. A notepad in front of Treasury Scott Bessent from a July 31 cabinet meeting at Camp David. Japan…
