Besent Clarifies "I Am the Dealer" Remark: Not Issuing a Challenge

Golden Finance reported that on September 11, U.S. Treasury Secretary Besent has taken some unusual measures in recent weeks, which have been viewed externally as efforts to help lower yields. These measures include expanding the bond buyback program and the rare intervention in the yen exchange rate. Besent stated on Thursday that part of the reason for these actions is related to Iran's moves. He said, "I am not doing this for the election." He pointed out that Iran is "trying to create economic problems for the U.S. through bond yields or oil prices." Besent also attempted to clarify his "I am the dealer" remark. Two days ago, while discussing Japan and the yen, he had told traders, "If you want to bet against me, go ahead." Regarding this statement, he explained, "When I said 'I am the dealer,' I was not issuing a challenge for people to come and compete with me." He added, "I am not saying I am always right, don't challenge me," "but what I want to convey is that I have access to more advantageous information, and I am working to provide the market with a reasonable analytical framework to prevent it from falling into panic." (Jin10)