During a cabinet meeting at Camp David, a photograph captured by a Reuters journalist revealed a handwritten note on Treasury Secretary Scott Bessent’s notepad. The note, which was visible to cameras, contained the instruction: “Buy Japanese Yen (JPY) $5-10 bil.” The image clearly shows the text positioned directly below Bessent’s name card.

While the note suggests a potential U.S. government interest in acquiring Japanese currency, the Treasury Department has not provided an official explanation regarding the context or intent behind the scribbled list. The visibility of such sensitive financial notes during a public-facing portion of a high-level meeting has drawn attention to how currency policy discussions are handled. There is currently no confirmation from the administration on whether this represents an active policy proposal, a discussion point, or an unrelated personal note. Market analysts are currently debating whether this indicates a planned intervention to stabilize currency markets or a misunderstanding of the note's original purpose.