The U.S. Department of the Treasury published a readout of Secretary Scott Bessent’s meeting with Bank of Japan Governor Kazuo Ueda, highlighting the need for close U.S.-Japan coordination on shared macroeconomic priorities. Bessent emphasized that sound monetary policy formulation and communication are important to anchor inflation expectations and avoid excessive exchange rate volatility. Bessent also expressed support for Japan’s market and monetary measures to address the yen’s substantial undervaluation, noting that yen weakness has contributed to domestic inflationary pressures in Japan.
2026-08-30U.S. Department of the Treasury
U.S. Department of the Treasury backs Japan’s action on yen undervaluation and urges clear monetary policy communication
The U.S. Department of the Treasury emphasized the need for sound Japanese monetary policy formulation and communication to anchor inflation expectations and limit excessive exchange rate volatility. Secretary Scott Bessent also backed Japan’s measures to address the yen’s substantial undervaluation and associated domestic inflation pressures.