Analysis: How Bessent is pushing Warsh’s Fed to expand backstop for Japan’s yen defense

Treasury Secretary Scott Bessent wants the Federal Reserve to expand its backstop for Japan's yen defense, per CNBC. The approach would shore up the currency without requiring additional U.S. Treasury sales into an already-sensitive bond market. The move relies on Fed financial tools to support the yen without adding volatility to U.S. debt markets.

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