US Treasury Secretary Scott Bessent met with Bank of Japan Governor Kazuo Ueda on Sunday, August 30, in Asheville, North Carolina, during the G20 Finance Ministers and Central Bank Governors Meeting, to discuss critical macroeconomic priorities and the yen's undervaluation.\n\nSecretary Bessent welcomed Governor Ueda's participation and underscored the importance of close U.S.-Japan coordination. He emphasized the need for sound formulation and communication of monetary policy to anchor inflation expectations and avoid excess exchange rate volatility.\n\nBessent also expressed strong support for Japan's decisive market and monetary steps to address the substantial undervaluation of the yen. He noted the role of yen weakness in contributing to domestic inflationary pressures in Japan.
