Scott Bessent

A former hedge fund manager who became US Treasury Secretary in 2025. Because he treats the long rate as a scorecard for policy, he has little appetite for other countries defending their currencies by selling US Treasuries. In July 2026 a photograph of a cabinet meeting caught his notepad reading 'Buy Japanese Yen $5-10 bil,' which is how the US yen intervention became known.

Predictions & track record (1)

• Awaiting grading The US bought yen for the first time since 2011, and it sold euros rather than dollars to do itScore on the Fed's H.4.1 released August 6 (as of August 5): dollars borrowed by foreign monetary authorities against Treasuries moving off zero counts as the FIMA route opening, staying at zero counts as the original expectation missing.

1 related posts

• Watch The US bought yen for the first time since 2011, and it sold euros rather than dollars to do it 메르 (ranto28) · 2026-08-03