Bessent Dares Trader Bets Against Him: ‘I Am the House’
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 boldly dared traders to bet against the Japanese yen, claiming he now wields significant influence over the currency. In an unusually forceful stance during a speech at Southern Methodist University in Texas, Bessent stated, "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."
The former hedge fund manager, known for his bold currency bets, has recently made history by being the first U.S. authority to purchase yen in over three decades. Additionally, Bessent recently announced plans to increase the U.S. government's purchases of U.S. Treasuries to curb rising yields.
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- Bessent Dares Traders on Yen Bets: ‘I Am the House Now’ bloomberg.com
- Bessent dares traders to bet against yen: ‘I am the house now’ japantimes.co.jp
