EconomyWhy Bessent Wants a Bigger Fed Backstop to Support the Yen
The yen’s weakness has prompted one of the most dramatic currency-market interventions in decades. Japan and the United States began a joint effort in late July to bolster the currency. US Treasury Secretary Scott Bessent then surprised financial markets by calling for the Federal Reserve to enlarge an obscure lending program. He said the expanded support would aid Tokyo’s efforts to defend the yen.
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Bloomberg News★★★★☆2026-08-06 03:00Original
Why Bessent Wants a Bigger Fed Backstop to Support the Yen
Economy