Bessent tries and fails to deliver yet again. Interventions wont work bro, need austerity.

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

TOKYO, Sept 18 (Reuters) – When Japanese finance minister Satsuki Katayama called Scott Bessent for help to support the cratering yen in June, her U.S. counterpart’s response was familiar: If Tokyo wanted assistance, it had to get its fiscal house in order.
For months, Treasury Secretary Bessent had told Katayama and other officials privately that Japan should rein in its massive fiscal spending and that its central bank ​needed to raise interest rates, according to three people familiar with the situation.

The Japanese worried that inflation stoked by the weaker yen would hurt Prime Minister Sanae Takaichi with voters. Bessent was more concerned that a sell-off in Japanese bonds could spill over to U.S. debt, the ‌people said. Katayama’s call for Washington’s help in a coordinated yen-buying spree enabled Bessent to press his case.
He urged Japan to first address fundamental factors driving down the yen — a reference to Takaichi’s big spending plans — and avoid any “inconsistency” between monetary and fiscal policies, two of the people said. In short: overhaul the policies that counter the Bank of Japan’s fight against inflation.

Bessent buying back $6B of the $40 trillion U.S. debt visualized pic.twitter.com/4KgNqPeaCZ

— Nostra, House of Gold (@Nostre_damus) September 23, 2026

Now he is trying to get another country to do fiscal reform meanwhile he can’t do that himself in his own…

Japan's 30-Year Yield just jumped to its highest level in history
byu/RobertBartus inEconomyCharts

h/t 2AcesRoth