Full Breakdown
Treasury Secretary Bessent Calls for Expanded Use of U.S. Financial Power Abroad
9/9/2026, 7:28:53 AM
Core Event: Advocacy for Financial Tools in Foreign Policy
He also referenced the July 31 joint yen-buying intervention with Japan, describing the operation as a means to prevent a sell-off in the yen and Japanese government bonds.
Background & Context
Last year the United States delivered a multibillion-dollar support package to Argentina to help stabilize its currency ahead of midterm elections. The Trump administration has previously employed tariffs, military raids, and strikes in Latin America as foreign-policy levers; rights advocates characterize those actions as imperial and extrajudicial.
Official Statements & Responses
Bessent framed the use of financial resources as a deliberate foreign-policy instrument, noting his “pretty good insight” into Japanese policy during the yen intervention. He linked the approach to broader U.S. efforts to support allies and to shield global markets from volatility.
Implications for U.S. Foreign Policy
The Treasury’s willingness to align monetary tools with political objectives could broaden the scope of economic statecraft, allowing the United States to influence foreign elections, stabilize partner economies, and counter perceived threats without direct military action. Critics may view such moves as an expansion of U.S. imperial reach, while supporters argue they provide flexible, non-coercive options for advancing American interests.
Verbatim Quotes
- “I ?believe that I can use ?the balance sheet of the U.S. for foreign policy. So, we have a foreign policy goal and that is to create allies in the Western hemisphere,” — Bessent
- “When we intervened with the Japanese yen, I have pretty good insight into what the Japanese, what the Bank of Japan is going to do, what Japanese policy makers are going to do,” — Bessent
