US Treasury Secretary Scott Bessent said he was “the house” regarding intervention in the yen market, warning speculators against selling yen and buying dollars. He made the remarks at an event held at a university in southern Texas.
US Treasury Secretary Scott Bessent emphasized that he was well versed in the internal thinking behind coordinated yen-buying intervention by Japanese and US authorities, saying, “I’m the house.” The remarks were reported through an interview with Bloomberg.
The remarks were intended to deter speculators in the yen market and are understood to have been aimed at discouraging attempts to sell yen and buy dollars.
Bessent reiterated that, when we intervene in the yen market, we are well versed in the Bank of Japan’s moves and the thinking of Japanese government officials, indicating his understanding of coordinated intervention.
The event was held at a university in southern Texas, where Bessent expressed the views described above.