Senator Elizabeth Warren Treasury Secretary Scott Bessent explained the reasons for the Trump administration's intervention in the yen, continuing the veteran Democrat's practice of reviewing the Trump administration's foreign exchange policy. In an August 13 letter, Warren wrote: “So far, the current administration has not provided detailed reasons for its intervention, nor has it officially disclosed how many taxpayers' funds have been used to buy yen.” Bezent confirmed media reports that the US and Japan jointly interfered with the yen exchange rate for the first time since 1998, but did not reveal how much money was spent. He said that the operation used the euro from the Ministry of Finance's Exchange Stabilization Fund. Referring to the use of ESF, Warren said, “Congress wants these powers to be used judiciously to advance national interests.” She requested a response from the government by August 28, and said “Please provide a legal analysis of the government's use of ESF”. Chief Democratic Member Warren of the Senate Banking Committee also asked Bezent to outline the costs that US taxpayers are expected to bear and “the size and terms of US financial support for Japan that are currently being considered.”

Senator Elizabeth Warren Treasury Secretary Scott Bessent explained the reasons for the Trump administration's intervention in the yen, continuing the veteran Democrat's practice of reviewing the Trump administration's foreign exchange policy. In an August 13 letter, Warren wrote: “So far, the current administration has not provided detailed reasons for its intervention, nor has it officially disclosed how many taxpayers' funds have been used to buy yen.” Bezent confirmed media reports that the US and Japan jointly interfered with the yen exchange rate for the first time since 1998, but did not reveal how much money was spent. He said that the operation used the euro from the Ministry of Finance's Exchange Stabilization Fund. Referring to the use of ESF, Warren said, “Congress wants these powers to be used judiciously to advance national interests.” She requested a response from the government by August 28, and said “Please provide a legal analysis of the government's use of ESF”. Chief Democratic Member Warren of the Senate Banking Committee also asked Bezent to outline the costs that US taxpayers are expected to bear and “the size and terms of US financial support for Japan that are currently being considered.”