How Bessent, America's bond salesman, cornered Japan on big spending

In a significant dialogue, US Treasury Secretary Bessent encouraged Japan to implement reforms in its fiscal and monetary policies. Aiming to stabilize the yen and mitigate market fluctuations, he emphasized the importance of US influence in this relationship. Meanwhile, Japan's finance minister sought backing from the US for yen support, illustrating the ongoing dynamic of US expectations placed on its steadfast ally.