Tough couple weeks for Sec. Bessent. His effort to prop up a foreign currency hasn’t worked. His failed intervention in Treasury markets was blasted by his mentor as burning "two centuries" of credibility. Trump's economy is crushing families. Maybe he should focus on that.

In her latest sciolistic letter to me, @Elizabeth Warren made it clear that she knows even less about foreign exchange markets than she does about banking. What is equally shocking, but not surprising: not a single member of the media mob has a rudimentary-enough level of financial market literacy to spot her remedial error. To reiterate: under @President Donald J. Trump, the United States delivers for America’s trusted partners. For a fuller explanation, I recommend Senator Warren take any entry level course in international finance for her and her staff, or I can personally give her a tutorial on Foreign Exchange for Dummies. Although I am not holding my breath, I hope her next letter will demonstrate that she has learned the difference between a currency purchase and a swap or a loan.