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US Treasury Secretary Scott Bessent will visit Japan for three days starting Monday, meeting Prime Minister Sanae Takaichi, Finance Minister Satsuki Katayama and Bank of Japan Governor Kazuo Ueda, before traveling to China, according to local media.

2026-05-07

US Treasury Secretary Scott Bessent will visit Japan for three days starting Monday, meeting Prime Minister Sanae Takaichi, Finance Minister Satsuki Katayama and Bank of Japan Governor Kazuo Ueda, before traveling to China, according to local media. Discussions are expected to cover foreign exchange markets, including recent yen volatility, rare earth supply chains and the Iran war. Reports said Japan likely spent about $34.5 billion last week in its first currency intervention since July 2024 to support the yen. The trip comes ahead of a May 14–15 US-China summit in Beijing involving Bessent, US President Donald Trump and Chinese President Xi Jinping.

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Federal Reserve's Goolsby: If weak consumer confidence leads to a decline in consumer spending, we will be watching for "insufficient demand."
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