Bessent looks forward to seeing Bank of Japan Governor Ueda at G20 in Asheville in August
“I look forward to seeing my longtime friend, Bank of Japan Governor Kazuo Ueda, at the G20 Finance Ministers Meetings in the beautiful Blue Ridge Mountains city of Asheville, North Carolina, at the end of August. Japan's economy continues to perform well under Prime Minister”
Bessent says Friday's coordinated foreign exchange actions countered disorderly yen movements
“The Trump Administration delivers for America's trusted partners. Economic security is national security. And the U.S.-Japan alliance is built on both. Friday's coordinated foreign exchange actions countered disorderly yen movements. Treasury remains attentive and in close”
Bessent says Japan making serious efforts to address substantial yen undervaluation
“The framework for the U.S.-Japan alliance begins with the strong relationship between @POTUS @realDonaldTrump and Prime Minister @takaichi_sanae. We've been in close contact with our Japanese allies, and they are making serious efforts to address the substantial undervaluation https://t.co/87fSbwgt0H”
Bessent suggests Treasury has asymmetric information that justified joining Japan's market intervention.
“I think that the market should think, well, why would we have joined the Japanese in the intervention at this time? Do we know something the market doesn't know?”