Bessent Slammed for Dismissing Yen Report as 'Backroom Gossip'

Treasury Secretary Scott Bessent faced ridicule after dismissing a report about his involvement in President Donald Trump's efforts to prop up the Japanese yen as 'backroom gossip.'

Bessent publicly attacked Wall Street Journal reporter Nick Timiraos on X, stating that he and other journalists were reduced to reporting Fed backroom gossip.

This came after Timiraos' reporting pointed out that Bessent was using the Federal Reserve backstop in a way it 'was never designed for' by bankrolling Japan's defense of the yen.

Critics slammed Bessent, with professor and economist Justin Wolfers calling his take 'super weird.'