Bessent Blasts Warren Over Yen Criticism: 'Get an Economics Lesson for Dummies'

Treasury Secretary Scott Bessent fired back at Massachusetts Sen. Elizabeth Warren's criticism of the Trump administration's efforts to support the Japanese yen, saying she got the facts wrong. In a letter to Warren, Bessent explained that the US didn't lend Japan money, but instead exchanged euros it already held for yen, essentially changing one currency for another.

This move was made to help stabilize the yen, which has fallen to a 40-year low against the dollar, and prevent its decline from further straining Japan's economy. A weaker yen makes imported goods more expensive for Japanese households and businesses, fueling inflation and increasing pressure on the country's financial system.

Bessent also took aim at Warren's lack of understanding in foreign exchange markets, suggesting she take an entry-level course in international finance to better grasp the concepts.