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09.09.26 - 12:42
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Bessent Tells Yen Traders ′I Am the House Now′ (Bloomberg)
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Treasury Secretary Scott Bessent challenged traders to test his resolve on boosting Japan's currency. “I am the house now, so when we intervene with the Japanese yen, I have pretty good insight into what the Japanese, what the Bank of Japan is going to do, what Japanese policymakers are going to do,” Bessent said at a Southern Methodist University event in Texas on Tuesday. Ven Ram of Bloomberg MLIV has the details. (Source: Bloomberg)...
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09.09.26 - 11:24
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Posen Says Bessent′s ′Posturing′ on Yen Is Ill-Advised (Bloomberg)
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Adam Posen, president of the Peterson Institute for International Economics, discusses Treasury Secretary Scott Bessent's challenge to traders to test his resolve on boosting the yen. "It's a bad policy," Posen tells Bloomberg Television. "As Secretary [Robert] Rubin used to say, and everyone up until now used to say: 'A strong dollar is in the US interest.'" (Source: Bloomberg)...
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