{
  "id": 4154360,
  "title": "Treasury Secretary Bessent warns unstable yen could lead to higher US interest rates",
  "url": "https://urgent.news/2026/08/29/treasury-secretary-bessent-warns-unstable-yen-could-lead-to-higher-us",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-29T09:19:29.000Z",
  "source": {
    "name": "The Mainichi",
    "slug": "the-mainichi",
    "url": "https://mainichi.jp/english/articles/20260829/p2g/00m/0bu/031000c"
  },
  "original_language": "en",
  "account": "U.S. Treasury Secretary Scott Bessent warned on Friday that an unstable Japanese yen could result in higher interest rates for Americans. The warning came after a joint market intervention between the U.S. and Japan aimed at propping up the yen. Bessent explained that a volatile currency could force unwinds in the markets, potentially destabilizing global markets and increasing borrowing costs for American families and businesses. The Treasury Department had swapped foreign-currency assets in the Exchange Stabilization Fund for yen as part of the intervention, though the scale of the purchases was not disclosed. Bessent informed Democratic Sen. Elizabeth Warren, ranking Democrat on the Senate Banking Committee, that he has legal authorization, with presidential approval, to carry out such transactions to support orderly exchange arrangements. The joint yen-buying operation was the first of its kind since 1998, conducted following the Japanese currency's fall to a 40-year low against the U.S. dollar. Despite the efforts of both nations, the yen has since experienced some losses, briefly weakening below 160 to the dollar on Friday, marking its first such drop since the intervention.",
  "summary": "WASHINGTON (Kyodo) -- U.S. Treasury Secretary Scott Bessent on Friday disclosed a letter justifying last month's coordinated market intervention by th",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Japan Times",
        "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",
        "published": "2026-08-28T23:30:00.000Z"
      }
    ]
  },
  "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."
}