EconomyBessent ready to repeat joint yen intervention, calls for larger Fed backstop

U.S. Treasury Secretary Scott Bessent said Sunday that he would not hesitate to repeat coordinated foreign-exchange intervention by the United States and Japan. He said such action had countered disorderly movements in the yen. Bessent also urged an expansion of the Federal Reserve backstop available to foreign central banks and monetary authorities. The comments point to continued concern over destabilizing currency swings.

yenforeign-exchange interventionFederal ReserveUS Treasury

RReuters★★★★☆2026-08-03 01:10Original