US Treasury Secretary Scott Bessent challenged currency traders on September 9–10, 2026, to bet against his efforts to strengthen the Japanese yen, claiming he has inside knowledge of Bank of Japan actions. Economist Adam Posen criticized the posturing as ill-advised.
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Treasury Secretary Scott Bessent challenged traders to counter his efforts to strengthen Japan’s currency, touting that when he makes market calls nowadays he’s effectively doing so with inside information. Bloomberg's Sunny Bangia breaks down the news. (Source: Bloomberg)
US Treasury Secretary Scott Bessent challenged traders to test his resolve on boosting the yen, saying he has insight on what the Bank of Japan is going to do. He spoke at a Southern Methodist University event in Texas. (Source: Bloomberg)
U.S. Treasury Secretary Scott Bessent has said that when he makes market calls these days, he's effectively doing so with inside information.
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)
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 ML
Treasury Secretary Scott Bessent challenged traders to test his resolve on boosting Japan’s currency, saying when he wades into markets these days he’s effectively doing so with inside information. David Finnerty explains. (Source: Bloomberg)