Katayama Caught Between Strengthening Yen and US Demands

Finance Minister Satsuki Katayama is facing pressure to strengthen the yen while balancing her position as Prime Minister Sanae Takaichi's economic advisor and meeting US demands. According to The Japan Times, a recent dinner between Katayama and U.S. Treasury Secretary Scott Bessent highlighted the tension.

The two-hour dinner took place at a 400-year-old garden in central Tokyo on a Monday evening in May. Bessent expressed dissatisfaction with Takaichi's economic course, which has led to capital outflows from Tokyo and a weakening of the yen to its lowest level in four decades.

Bessent, a former hedge fund manager, reportedly closely followed the Japanese economy while working in his previous role. The publication notes that this was not the first time Bessent had discussed Japan's economic policies with Katayama.