U.S. Treasury Secretary Bessent said on Aug. 31 that policymakers traditionally do not raise interest rates in response to supply shocks. In a separate remark on the bond market, he said he had not bought any bonds. He also said he believes Japan and the Bank of Japan will take steps to push the yen higher. The comments were cited by BlockBeats in a brief market update. No additional policy details, timing, or market measures were provided in the source text.
U.S. Treasury Secretary Bessent said on Aug. 31 that, traditionally, interest rates are not raised when the economy is hit by a supply shock.
On the bond market, Bessent said: "I have not bought any bonds."
Speaking about Japan, he added that he believes Japan and the Bank of Japan will take steps to push the yen higher.
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