Earlier this month, Sen. Elizabeth Warren sent a letter to Treasury Secretary Scott Bessent about some "serious questions" she said have been raised:
U.S. Senator Elizabeth Warren (D-Mass.), Ranking Member of the Senate Banking, Housing, and Urban Affairs Committee, sent a letter to Secretary of the Treasury Scott Bessent pressing for more information regarding the Trump Administration’s decision to deploy its Exchange Stabilization Fund (ESF) to boost financial markets and inflate the Japanese yen after it rapidly dropped to a 40-year low. Warren noted that the Administration has yet to provide a detailed justification for its intervention, nor has it officially disclosed how much taxpayer-linked funds were spent purchasing yen.
“The mechanisms through which Treasury executed the yen purchase raise serious questions regarding the costs to American taxpayers,” wrote Ranking Member Warren.
This was another example of "be careful what you ask for" when it comes to Warren.
In her latest sciolistic letter to me, @SenWarren made it clear that she knows even less about foreign exchange markets than she does about banking.What is equally shocking, but not surprising: not a single member of the media mob has a rudimentary-enough level of financial… pic.twitter.com/0mmp2tapqJ
In her latest sciolistic letter to me, @SenWarren made it clear that she knows even less about foreign exchange markets than she does about banking.
What is equally shocking, but not surprising: not a single member of the media mob has a rudimentary-enough level of financial market literacy to spot her remedial error.
To reiterate: under @POTUS, the United States delivers for America’s trusted partners.
For a fuller explanation, I recommend Senator Warren take any entry level course in international finance for her and her staff, or I can personally give her a tutorial on Foreign Exchange for Dummies. Although I am not holding my breath, I hope her next letter will demonstrate that she has learned the difference between a currency purchase and a swap or a loan.
Youch! That might have gone worse for Warren than her DNA test.
👏👏👏👏Saucily Savage. I love watching you execute these precise narrative assassinations.
https://t.co/2o6cmugrw7 pic.twitter.com/yoTngx18Jw
Broooootal by Bessent.Poor Liz. Ignorant media. https://t.co/76pWpxnvkv
Democrats like Warren know that much of the media will instinctively take her side and otherwise have no idea what they're talking about either, which makes them the perfect partners for lying Liz.
Tough couple weeks for Sec. Bessent.His effort to prop up a foreign currency hasn’t worked. His failed intervention in Treasury markets was blasted by his mentor as burning "two centuries" of credibility.Trump's economy is crushing families. Maybe he should focus on that. https://t.co/VlFohW6Lrr
