PostAt Southern Methodist University, full of his arrogance, Treasury Secretary ‘Scrooge’ Bessent informed the world's curre…

At Southern Methodist University, full of his arrogance, Treasury Secretary ‘Scrooge’ Bessent informed the world's currency traders: "I am the house now. You can bet against me if you want." He added, helpfully, that he holds "asymmetric information" about coordination with Tokyo and the Bank of Japan's likely responses — a candid admission that the referee is also holding a hand of cards. The backdrop: the Treasury quietly sold euros to buy yen, sparing Japan from liquidating yet more of its Treasury holdings after August's $87.8 billion of sales, while doubling its own bond buybacks to lift prices and press yields lower. The historically literate one response is that : officials never turn a trend; they merely announce it after it has turned. https://www.bloomberg.com/news/videos/2026-09-09/bessent-tells-yen-traders-i-am-the-house-now-video