Bessent Sets Sights on Yen Rescue

Scott Bessent, a former hedge fund manager and Treasury secretary under President Donald Trump, has turned his attention to helping Japan prop up its currency. In an unorthodox move, he made his intentions public by letting media view his notepad with a $10 billion yen buying plan.

Bessent's background in currency bets is notable - he previously made $1 billion working for George Soros on Wall Street. His experience also includes launching a high-risk rescue plan for Argentina during his tenure as Treasury secretary.

The plan to buy yen is an unusual tactic, but one that Bessent has employed before with success. The exact details of the plan and its potential impact remain unclear, however.