Bessent must be furious…

Warsh’s speech sent the yen straight back toward 160.

It also highlights another reason Warsh can’t hike rates:

Higher US rates would strengthen the dollar and push the yen even lower.

That would increase pressure on the BoJ to sell USTs to defend… pic.twitter.com/4gIhwfGWUV

— Lukas Ekwueme (@ekwufinance) August 28, 2026