‘Take Any Entry Level Course’: Bessent Goes After Liz Warren, ‘Media Mob’ In Heated Post

Treasury Secretary Scott Bessent recommended an entry level finance course for Democratic Massachusetts Sen. Elizabeth Warren after she challenged the U.S. operation propping up the Japanese yen.

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Treasury traded foreign currency it already held for yen and extended Tokyo no credit, according to Bessent’s Aug. 27 letter to the senator. Bessent was replying to a Warren sent on Aug. 13, warning that “American taxpayers would ultimately bear the cost if Japan were unable to repay the Department of the Treasury.”

“No new congressional appropriation was involved, and no credit was extended to Japan. Japan owes Treasury nothing,” Bessent clarified in his letter. “There is therefore no risk that Japan will fail to repay a debt that does not exist.”

Bessent carried the fight to X on Friday, calling Warren’s letter “sciolistic” and blasting the reporters covering it.

“[N]ot a single member of the media mob has a rudimentary-enough level of financial market literacy to spot her remedial error,” Bessent wrote in the post.

He also suggested that Warren “take any entry level course in international finance for her and her staff,” according to the post. (RELATED: Scott Bessent’s Mentor Warns Treasury Bond Buybacks Are ‘Mistake’)

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In his letter, Bessent steered Warren toward the law she cited in her own letter. “Section 5302 expressly authorizes the Secretary, with presidential approval, to deal in foreign exchange in support of orderly exchange arrangements,” he wrote.

Warren answered the same day on X, claiming that his “effort to prop up a foreign currency hasn’t worked” and that “Trump’s economy is crushing families.”

Treasury funded the July 31 purchase by selling euros rather than dollars, according to the Council on Foreign Relations (CFR). The yen had hit a 40-year low the previous month, according to CFR.

Treasury still has not disclosed the size of its yen position, the execution rate or its current value, CNBC reported.

Washington last intervened to prop up the yen in 1998, according to the Peterson Institute for International Economics.

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