Odd Lots: Brad Setser on the US’s Yen Intervention (Podcast)

The US and Japan conducted a joint intervention in the Japanese currency market last week, marking the first such coordinated action in 15 years. Treasury Secretary Scott Bessent sold euros rather than dollars as part of the intervention, and the Federal Reserve used a repo facility in the operation. Brad Setser discussed the reasons for the yen's decline and the likely effectiveness of the intervention on the Odd Lots podcast.

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