{
  "id": 4064038,
  "title": "Bessent says a ‘disorderly yen’ would risk higher U.S. rates",
  "url": "https://urgent.news/2026/08/28/bessent-says-a-disorderly-yen-would-risk-higher-u-s-rates",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-28T23:30:00.000Z",
  "source": {
    "name": "Japan Times",
    "slug": "japan-times",
    "url": "https://www.japantimes.co.jp/business/2026/08/29/markets/bessent-disorderly-yen-us-rates/"
  },
  "original_language": "en",
  "account": "U.S. Treasury Secretary Scott Bessent defended his decision to support the yen last month, warning that extreme volatility could lead to higher U.S. interest rates. He explained that Japan, a major holder of U.S. Treasuries, could experience forced unwinds in its markets, destabilizing global markets and raising borrowing costs for American families and businesses. While Bessent did not disclose the exact amount used in the intervention, he confirmed it involved existing foreign-currency assets from the Exchange Stabilization Fund for yen. Japan reported spending a record $96.4 billion in the past month to support the yen, which has fallen below ¥160 per dollar for the first time since the intervention. Bessent argued that his department followed the ESF's statute, which authorizes the secretary, with presidential approval, to deal in foreign exchanges to maintain orderly exchange agreements. He emphasized that no credit was extended to Japan, and therefore, there is no risk of Japan failing to repay a non-existent debt.",
  "summary": "U.S. Treasury Secretary Scott Bessent declined to spell out how much the U.S. deployed in a late July yen intervention.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}