Scott Bessent: “We treated efficiency as a substitute for resilience, and consumption as a measure of prosperity.”

Today’s actions send a clear message that even the biggest financial institutions are not above the law.

I am the house now, so when we intervene with the Japanese yen, I have pretty good insight into what the Japanese, what the Bank of Japan is going to do, what Japanese policymakers are going to do.

Rather than take my suggestion of studying introductory economics, you have continued your letter-writing crusade and participation in tabloid fodder about the Treasury Department.

The world has been coming to the U.S., and China has been the missing piece.