In their meeting, Bessent underscored the importance for Japan to have 'sound' monetary policy formulation and communication in anchoring inflation expectations. All that so as to prevent any excess "exchange rate volatility". The headlines here are from a readout by the US Treasury department.
The readout mentions that conditions now are substantially different from the introduction of Abenomics some 12 years ago. Adding that Bessent is also pleased to hear Katayama's perspective on Japan's latest fiscal plans and eager to better understand the potential impact of that.
The part on making mention of "exchange rate volatility" is a little jibe at Japan with it being something that Trump was previously unhappy about, in accusing Tokyo of purposefully making its currency weaker.
