Scott Bessent blasts Elizabeth Warren, offers ‘Foreign Exchange for Dummies’ tutorial
Treasury Secretary Scott Bessent issued a sharp rebuttal to Senator Elizabeth Warren’s criticism regarding U.S. intervention in the Japanese yen market. Bessent defended the Treasury's actions, clarifying that no new debt was created and offering a sarcastic financial tutorial to the senator.
Why it matters
The exchange highlights ongoing political friction regarding the management of U.S. foreign exchange policy and the role of the Exchange Stabilization Fund.
See more of our coverage in your search results.
Add The New York Post on Google Treasury Secretary Scott Bessent sarcastically offered to give Sen. Elizabeth Warren a tutorial on “Foreign Exchange for Dummies” in a blistering response to her criticism of the government’s intervention to prop up the Japanese yen , The Post has learned.
The lefty Massachusetts senator’s recent attack “unfortunately reveals that you know even less about foreign exchange markets than you do about banking,” Bessent wrote in a letter dated Thursday that was exclusively obtained by The Post.
“Terrifyingly, the opening paragraph is wrong about where the money came [from], what the transaction was, and whether there was even a borrower,” he added.
“What is equally shocking, but not surprising: not a single member of your media mob has a rudimentary-enough level of financial market literacy to spot your remedial error.”
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in