CNA·3 min read·medium
Bessent ready to repeat joint yen intervention, urges bigger Fed backstop
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CNA
✦AI Summary
U.S. Treasury Secretary Scott Bessent has pledged to continue coordinated foreign exchange interventions to stabilize the yen. He is also calling for an expansion of the Federal Reserve's FIMA Repo Facility to provide a stronger backstop for international monetary authorities during market stress.
FILE PHOTO: U.S. Treasury Secretary Scott Bessent speaks to members of the media at the White House in Washington, D.C., U.S., July 30, 2026. REUTERS/Kylie Cooper/File Photo
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