Following Moody's Ratings' decision to downgrade the U.S. credit rating, Treasury Secretary Scott Bessent publicly dismissed the agency's assessment. Bessent labeled Moody's as a "lagging indicator," suggesting that their evaluation doesn't accurately reflect the current strength and stability of the American economy. He emphasized the U.S. government's commitment to meeting its financial obligations and highlighted positive economic indicators that contradict Moody's concerns about rising debt levels.
Moody's cited increasing government debt and political polarization as key factors influencing their decision to lower the U.S. credit outlook. The downgrade, while not as severe as a full credit rating reduction, signals a potential future risk. Bessent's rebuttal aims to reassure investors and the public that the U.S. economy remains resilient. CBS News business contributor Javier David offered additional analysis of the situation, discussing the potential impact of the downgrade on financial markets and the broader economy.
Treasury Sec. Bessent Dismisses Moody's Downgrade as 'Lagging'
Treasury Secretary Scott Bessent downplayed Moody's recent downgrade of the U.S. credit rating, calling the agency a "lagging indicator." This assessment follows Moody's decision to lower the U.S. credit outlook, citing concerns about rising debt. Bessent defended the U.S. economy and its ability to meet its financial obligations. CBS News business analyst Javier David provided further context on the situation.
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