Bessent Rebukes Warren Over Yen Intervention Questions

Treasury Secretary Scott Bessent has sharply rebuked Senator Elizabeth Warren over her questions about a recent U.S. intervention to support the Japanese yen, asserting that the Massachusetts Democrat fundamentally misunderstood the nature of the transaction. In a public response posted on August 28, Bessent stated that the operation was a currency purchase, not a loan, and therefore Japan owes the United States nothing. The exchange stems from a letter Warren, the ranking Democrat on the Senate Banking Committee, sent to Bessent on August 13.