U.S. Treasury chief says further coordinated action possible, calls for expanded Federal Reserve lending facility
Bessent Ready for Joint Yen Intervention, Urges Bigger Fed Backstop
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Summary
U.S. won’t hesitate to conduct further joint yen intervention, Bessent says. Foreign central banks and monetary authorities currently have just under $3 trillion on deposit at the New York Fed, with about $2.65 trillion of that amount in Treasuries, according to the latest Fed data. FIMA was established by the Federal Open Market Committee – the Fed's rate-setting arm – and any changes to its lending parameters or structure would require the committee’s approval.
Furthermore, Selling Treasuries also could further push up bond yields that rose after the US central bank held interest rates steady last week. BESSENT PRAISES DIRECTION OF TAKAICHI'S GOVERNMENT The U.S. Treasury chief said the coordinated foreign exchange actions "countered disorderly yen movements" that pushed the currency to new 40-year lows against the dollar last week.
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U.S. won’t hesitate to conduct further joint yen intervention, Bessent says.
according to Investing.comForeign central banks and monetary authorities currently have just under $3 trillion on deposit at the New York Fed, with about $2.65 trillion of that amount in Treasuries, according to the latest Fed data.
according to Free Malaysia Today +1FIMA was established by the Federal Open Market Committee – the Fed's rate-setting arm – and any changes to its lending parameters or structure would require the committee’s approval.
according to Channel News Asia +1Selling Treasuries also could further push up bond yields that rose after the US central bank held interest rates steady last week.
according to Free Malaysia Today +1BESSENT PRAISES DIRECTION OF TAKAICHI'S GOVERNMENT The U.S. Treasury chief said the coordinated foreign exchange actions "countered disorderly yen movements" that pushed the currency to new 40-year lows against the dollar last week.
according to Channel News Asia
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