Warren Confirms JPMorgan Bought Argentine Pesos for US Treasury

JPMorgan Chase & Co. bought Argentine pesos last month on behalf of the US Treasury as Secretary Scott Bessent tried to shore up the country’s libertarian leader before a pivotal election, according to two letters sent Thursday by Senator Elizabeth Warren.

It’s the first public confirmation of JPMorgan’s exact role in the sweeping rescue effort the US mounted as President Javier Milei’s government reeled from weeks of market volatility heading into the October midterm race. While the bank’s participation in Argentina’s currency market was known, Warren’s letter clarifies that the Wall Street giant bought for the Treasury. ...