U.S. Treasury Chief Backs Action to Address Weak Yen
Asheville, North Carolina, Sept. 1 (Jiji Press)--U.S. Treasury Secretary Scott Bessent told Bank of Japan Governor Kazuo Ueda that he supports actions by Japanese authorities to tackle the undervaluation of the yen, the Treasury Department said Tuesday. In talks with Ueda on Sunday on the sidelines of a meeting of the Group of 20 finance ministers and central bank chiefs in Asheville, North...
U.S. Treasury Secretary Scott Bessent has expressed support for Japan's efforts to address the undervaluation of the yen during his recent talks with Bank of Japan Governor Kazuo Ueda in Asheville, North Carolina. Bessent emphasized the importance of sound monetary policy formulation and communication to stabilize inflation expectations and prevent excessive exchange rate volatility.
He also stressed the significance of close coordination between Japan and the United States, highlighting the yen's role in contributing to domestic inflationary pressures in Japan.
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