On July 31, 2026, U.S. Treasury Secretary Scott Bessent participated in a cabinet meeting at Camp David, Maryland, where he underscored a directive to purchase Japanese yen valued between $5 billion and $10 billion. This move reflects growing attention to Japan’s economic situation, often described as "Japanization," a term referencing the country’s prolonged period of economic stagnation known as the Lost Decades.

William Pesek, an award-winning Tokyo-based journalist and author of "Japanization: What the World Can Learn from Japan's Lost Decades," highlights the significance of this development. The yen purchase initiative is seen as part of broader strategic considerations involving Japan’s monetary policies and regional economic stability in Asia.

The directive, noted as "To Do -- Buy Japanese Yen (JPY) $5-10 bil," was read by Secretary Bessent during the meeting, signaling Washington’s active engagement with Japan’s currency and economic challenges.

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