Folks, I’m sipping my coffee and reading about the US buying Japanese yen for the first time in over a decade, and I’ve got to say, it’s an interesting move. President Donald Trump called it “a signal of friendship” and said the US is always there for Japan. I mean, who doesn’t love a good friendship, right? The US intervened in Japan’s currency market to prop up the yen from its 40-year low against the dollar, which is a big deal. Trump said Japan wanted a little help, and the US is happy to oblige.
I’m looking at the quotes from Trump, and he’s saying that supporting the yen would be “good for the world economy.” He’s also bringing up the $20 billion bailout for Argentina and the capture of Venezuelan President Nicolás Maduro as examples of how US intervention has helped other countries. Now, I’m no economist, but I’m pretty sure it’s not that simple. The impact of those actions is more complicated, and I’m not sure if it’s entirely accurate to use them as examples.
Treasury Secretary Scott Bessent is saying that the US and Japan coordinated foreign exchange actions to counter disorderly yen movements, and the Treasury Department “will not hesitate to participate in further joint intervention.” He’s also saying that the US strongly supports Japan’s decisive market and monetary steps to correct the substantial undervaluation of the yen. I’m not sure what to make of all this, but it sounds like the US is trying to help out its friend Japan.
I saw a photo of Bessent’s notepad from a cabinet meeting at Camp David, and it looks like he had a “to-do” list that included buying Japanese yen. The photo showed the underscored words “To Do” followed by “Buy Japanese Yen (JPY) $5-10 bil.” I guess that’s one way to keep track of your tasks. Trump is also saying that the US will benefit financially from the move, but he didn’t explain how. I’m not sure if I buy that, but I suppose only time will tell.
Trump made a joke about Japan being “very good to us, with the exception, of course, of Pearl Harbor.” I’m not sure if that’s the best way to make a joke about a historic event, but I suppose it’s all in good fun. Overall, it’s an interesting move by the US, and I’m curious to see how it all plays out.
In the end, it seems like the US is trying to help out Japan and stabilize the yen. I’m not sure if it’ll work, but I suppose it’s worth a shot. And who knows, maybe the US will even benefit financially from the move. As I finish my coffee, I’m left wondering what other surprises the world of economics has in store for us. One thing’s for sure, it’s never boring. 🙄
Armchair patriot. Believes in the free market, cold beer, and that there’s always a guy named George behind every CNN segment.
Former remote-throwing champion turned #1 couch commentator on liberal panic in the media. Born in Texas (or so his mug says), he earned a degree in Fake Newsology & Beer Philosophy from YouTube University.
