{"id":2651817,"date":"2026-08-29T20:31:02","date_gmt":"2026-08-30T00:31:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bessent-blasts-warrens-sciolistic-letter-about-yen-policy\/"},"modified":"2026-08-29T20:36:17","modified_gmt":"2026-08-30T00:36:17","slug":"bessent-blasts-warrens-sciolistic-letter-about-yen-policy","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/bessent-blasts-warrens-sciolistic-letter-about-yen-policy\/","title":{"rendered":"Bessent blasts Warren&#8217;s &#8216;sciolistic&#8217; letter about yen policy"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">16<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fbessent-blasts-warrens-sciolistic-letter-about-yen-policy%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2651817&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Treasury Secretary Scott Bessent publicly opposed Senator Elizabeth Warren&#8217;s critique of the U.S. government&#8217;s currency intervention with Japan aimed at supporting the yen, which had hit a 40-year low. Warren had questioned the governance\u2019s use of the Exchange Stabilization Fund (ESF) too purchase yen, demanding openness about the funds used and the transaction details. Bessent responded by defending the intervention,clarifying that no new funds or debts were involved and that Japan owed nothing to the U.S. government. He criticized Warren\u2019s understanding of <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/putin-wants-unfriendly-countries-to-pay-for-russian-gas-in-roubles\/\" title=\"Putin Wants \u201cUnfriendly... Countries to Pay for Russian Gas in Roubles\">foreign exchange markets<\/a> and emphasized the importance of oversight based on facts, warning that instability in yen markets could negatively impact global markets and U.S. borrowing costs.Warren dismissed Bessent&#8217;s arguments,suggesting he <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/illegals-caught-with-explosives-tailored-for-terrorism-have-gop-raising-new-alarms-on-bidens-risky-border-policies\/\" title=\"GOP raises new alarms on Biden&#039;s risky border policies as illegals caught with terrorism-tailored explosives.\">lacks sufficient knowledge<\/a> about currency markets and criticized his involvement in other international issues. The exchange highlighted ongoing disagreements over U.S. foreign currency policies and fiscal management.  <\/p>\n<p class=\"readmore\">\n    <button onclick=\"showReadMore()\" id=\"readmorebtn\">Read more&#8230;<\/button>\n<\/p>\n<hr id=\"line\">\n<span id=\"more\"><\/p>\n<article class=\"fn-body\">\n<p class=\"wp-block-paragraph\">Treasury Secretary <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/scott-bessent\/\">Scott Bessent<\/a> rebuked Sen. <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/elizabeth-warren\/\">Elizabeth Warren<\/a> (D-MA) on Friday over a weekslong disagreement over the Treasury Department\u2019s decision to execute a joint currency intervention with <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/tag\/japan\/\">Japan<\/a> to support the weakening yen after the currency dropped to a 40-year low at the beginning of August.<\/p>\n<p class=\"wp-block-paragraph\">Warren sent a <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.banking.senate.gov\/newsroom\/minority\/warren-presses-bessent-on-trump-administrations-intervention-in-the-japanese-yen\">personal letter<\/a> to Bessent on Aug. 14 to press \u201cfor more information regarding the Trump administration\u2019s decision to deploy its Exchange Stabilization Fund (ESF) to boost financial markets and inflate the Japanese yen.\u201d The ranking member of the Senate Banking, Housing, and Urban Affairs Committee, Warren also said then the Trump administration \u201chas yet to provide a detailed justification for its intervention, nor has it officially disclosed how much taxpayer-linked funds were spent purchasing yen.\u201d<\/p>\n<section class=\"explore-more-section\" id=\"wex-recommended-widget\">\n<div class=\"magazine-container single\">\n<h1 class=\"magazine-title mt-2\">Recommended Stories<\/h1>\n<p>             <i class=\"fa-solid fa-play icon\"><\/i>         <\/div>\n<div class=\"explore-grid\">\n<div class=\"explore-card\">                         <a href=\"https:\/\/www.washingtonexaminer.com\/news\/white-house\/4705446\/bessent-blasts-warrens-letter-yen\/?itm_source=parsely-api\">                             <\/p>\n<div class=\"explore-thumb-wrap\">                                                                                                                                  <\/div>\n<h3>Bessent blasts Warren\u2019s \u2018sciolistic\u2019 letter about yen policy<\/h3>\n<p>                         <\/a>                     <\/div>\n<div class=\"explore-card\">                         <a href=\"https:\/\/www.washingtonexaminer.com\/news\/white-house\/4705260\/former-white-house-teleprompter-insider-trading-probe\/?itm_source=parsely-api\">                             <\/p>\n<div class=\"explore-thumb-wrap\">                                                                                                                                  <\/div>\n<h3>Former Trump White House teleprompter operator to pay over $172,000 after insider-trading probe<\/h3>\n<p>                         <\/a>                     <\/div>\n<div class=\"explore-card\">                         <a href=\"https:\/\/www.washingtonexaminer.com\/news\/white-house\/4705178\/seneca-nation-calls-trump-rescind-lake-ontario\/?itm_source=parsely-api\">                             <\/p>\n<div class=\"explore-thumb-wrap\">                                                                                                                                  <\/div>\n<h3>Seneca Nation president calls on Trump to rescind order renaming Lake Ontario<\/h3>\n<p>                         <\/a>                     <\/div>\n<\/p><\/div>\n<\/section>\n<p class=\"wp-block-paragraph\">Bessent <a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/x.com\/SecScottBessent\/status\/2093365277228458023\">finally responded<\/a> on Friday, saying the Massachusetts Democrat \u201cmade it clear that she knows even less about foreign exchange markets than she does about banking\u201d before saying the opening paragraph of her letter \u201cis wrong about where the money came, what the transaction was, and whether there was even a borrower.\u201d<\/p>\n<div class=\"wex-inarticle-ad wex-inarticle-ad-art-dsk-inart-1\">\n<div class=\"wex-ad-wrap wex-ad-art-dsk-inart-1\" style=\"min-height:90px\"><span class=\"wex-ad-label\" hidden>Advertisement<\/span><\/p>\n<div id=\"div-gpt-ad-3182201-15\" data-wex-ad=\"art-dsk-inart-1\"><\/div>\n<\/div>\n<\/div>\n<div class=\"article-paywall\">\n<p class=\"wp-block-paragraph\">\u201cTreasury exchanged Existing Stabilization Fund foreign-currency assets for yen. No new congressional appropriation was involved, and no new credit was extended to Japan,\u201d Bessent further explained. \u201cJapan owes Treasury nothing. There is therefore no risk that Japan will fail to repay a debt that does not exist.\u201d<\/p>\n<p class=\"wp-block-paragraph\">Warren said it\u2019s been a \u201ctough couple weeks for Sec. Bessent\u201d in response, referencing his recent increased involvement in the conflict in Iran. \u201cHis effort to prop up a foreign currency hasn\u2019t worked. His failed intervention in Treasury markets was blasted by his mentor as burning \u2018two centuries\u2019 of credibility.\u201d<\/p>\n<p class=\"wp-block-paragraph\"><a target=\"_blank\" rel=\"noopener noreferrer\" href=\"https:\/\/www.washingtonexaminer.com\/policy\/finance-and-economy\/4701923\/fiscal-hawks-skeptical-bessent-claim-grow-40-trillion-debt\/\"><strong>FISCAL HAWKS SKEPTICAL OF BESSENT\u2019S CLAIM THAT US CAN \u2018GROW OUR WAY OUT\u2019 OF $40 TRILLION DEBT<\/strong><\/a><\/p>\n<div class=\"wex-inarticle-ad wex-inarticle-ad-art-dsk-inart-2\">\n<div class=\"wex-ad-wrap wex-ad-art-dsk-inart-2\" style=\"min-height:90px\"><span class=\"wex-ad-label\" hidden>Advertisement<\/span><\/p>\n<div id=\"div-gpt-ad-3182201-16\" data-wex-ad=\"art-dsk-inart-2\"><\/div>\n<\/div>\n<\/div>\n<p class=\"wp-block-paragraph\">Bessent also told Warren that \u201cdisorderly yen markets\u201d could <a href=\"https:\/\/amzn.to\/3YuVZYV\" >harm global markets<\/a> and ultimately raise borrowing costs for Americans, and compared the decision to a similar intervention with Argentina last year.<\/p>\n<p class=\"wp-block-paragraph\">\u201cThe American people deserve oversight grounded in facts rather than slogans,\u201d the letter ended. \u201cAlthough I am not holding my breath, I hope your next letter will demonstrate that you have learned the difference between a currency purchase and a swap or a loan.\u201d<\/p>\n<\/div>\n<div class=\"wex-inarticle-ad wex-inarticle-ad-art-dsk-inart-3\">\n<div class=\"wex-ad-wrap wex-ad-art-dsk-inart-3\" style=\"min-height:90px\"><span class=\"wex-ad-label\" hidden>Advertisement<\/span><\/p>\n<div id=\"div-gpt-ad-3182201-17\" data-wex-ad=\"art-dsk-inart-3\"><\/div>\n<\/div>\n<\/div>\n<\/article>\n<p><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bessent rebukes Warren over yen intervention dispute<\/p>\n","protected":false},"author":3238,"featured_media":2651818,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2026\/08\/image-collage-zrdegwul7-1788043139033-e1788045320664.jpg?1788028822&amp;w=696","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[34402,5894,3883,84865],"class_list":["post-2651817","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-economic-policy","tag-politics","tag-warren","tag-yen"],"fifu_image_url":"https:\/\/www.washingtonexaminer.com\/wp-content\/uploads\/2026\/08\/image-collage-zrdegwul7-1788043139033-e1788045320664.jpg?1788028822&amp;w=696","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2651817","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/3238"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2651817"}],"version-history":[{"count":3,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2651817\/revisions"}],"predecessor-version":[{"id":2651821,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2651817\/revisions\/2651821"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2651818"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2651817"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2651817"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2651817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}