A handwritten 'to do' list belonging to US Treasury Secretary Scott Bessent, photographed at a Camp David cabinet meeting, appeared to show a proposal for the US to buy $5bn-$10bn in Japanese yen, according to the Guardian.
Key facts
- A Reuters photographer captured Scott Bessent's notepad during a Camp David cabinet meeting on Friday.
- The notepad showed the underscored words 'To Do' followed by 'Buy Japanese Yen (JPY) $5-10 bil'.
- The image was taken during a portion of the meeting open to journalists.
- The note has prompted questions over US plans regarding the yen.
US Treasury Secretary Scott Bessent inadvertently exposed a proposal for the United States to buy between $5bn and $10bn in Japanese yen after a handwritten ‘to do’ list was photographed at a cabinet meeting, according to the Guardian.
The image was taken by a Reuters photographer on Friday morning during a cabinet meeting at Camp David. The photo, captured over Bessent’s shoulder during a portion of the meeting that was open to journalists, showed a Camp David notepad.
On the notepad, the underscored words ‘To Do’ were followed by the line ‘Buy Japanese Yen (JPY) $5-10 bil’, the Guardian reported.
The Guardian said the image has prompted questions over US plans concerning the Japanese currency. The exact context and status of the proposal were not detailed in the report.
The revelation is notable because currency interventions of this kind are typically closely guarded, given their potential to move foreign exchange markets.
Why it matters
Government decisions to buy or sell large amounts of foreign currency can influence exchange rates and financial markets, and are usually kept confidential. The apparent accidental disclosure of such a proposal by a senior US official raises questions about both policy intentions and the handling of sensitive information.
Frequently asked questions
What did Bessent's notepad show?
According to the Guardian, the notepad showed the underscored words 'To Do' followed by 'Buy Japanese Yen (JPY) $5-10 bil'.
How was the note revealed?
A Reuters photographer captured the image over Bessent's shoulder during a portion of a Camp David cabinet meeting that was open to journalists on Friday morning.
How much yen was the US proposing to buy?
The note indicated a proposal to buy between $5bn and $10bn in Japanese yen, according to the reporting.