Bessent says ‘I am the house now.’ What it means for the yen — and U.S. stocks.

Treasury Secretary Scott Bessent said at Southern Methodist University's business school on Tuesday that "I am the house now," according to remarks delivered at the event. Bessent did not elaborate on the statement during the public remarks. The Treasury Department manages U.S. fiscal policy and currency matters that affect both foreign exchange markets and domestic equity valuations.

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