Forex
Bessent Criticizes Japan's Economic Policies Over Weak Yen
US Treasury Secretary Scott Bessent expressed frustration over Japan's economic policies in May during a dinner meeting with Japanese Finance Minister Satsuki Katayama.
The meeting took place on May 11, where Bessent questioned Katayama about the benefits of a weaker yen being preached by some economic advisers around Prime Minister Sanae Takaichi.
Bessent believed that the depreciation of the yen had gone too far and was making inflation in Japan worse, posing a problem also for the administration of US President Donald Trump.
He argued that raising interest rates by the Bank of Japan would improve the situation and pressed Katayama on why the BOJ was not given autonomy.