A little-used Fed backstop is being put to a use it was never designed for—bankrolling Japan’s defense of the yen—and Treasury Secretary Scott Bessent wants it to be expanded

You are currently viewing A little-used Fed backstop is being put to a use it was never designed for—bankrolling Japan’s defense of the yen—and Treasury Secretary Scott Bessent wants it to be expanded

A little-used Fed backstop is being put to a use it was never designed for—bankrolling Japan’s defense of the yen—and Treasury Secretary Scott Bessent wants it to be expanded




The Treasury secretary wants the central bank to help by raising its $60 billion borrowing limit on an obscure lending program.
2026-08-04 00:00:00
Nick Timiraos