Treasury Secretary Scott Bessent has downplayed Moody's recent downgrade of the United States' credit rating, labeling the agency's assessment a 'lagging indicator.' In an interview on NBC News' 'Meet the Press,' Bessent defended the U.S. economy, asserting that its current performance is stronger than Moody's rating suggests.
Moody's Investors Service lowered the U.S. credit rating by one notch from its highest level, citing concerns about the nation's fiscal outlook and political polarization. This action prompted a swift response from the Treasury Secretary, who argued that Moody's is relying on outdated information.
'They are looking in the rearview mirror,' Bessent stated. 'The American economy is resilient, and we are committed to responsible fiscal management.' He pointed to recent job growth and declining inflation as evidence of the economy's strength. The Treasury Secretary's remarks highlight the ongoing debate surrounding the nation's financial stability and the role of credit rating agencies in assessing economic risk.
Treasury Secretary Dismisses Moody's Downgrade as 'Lagging Indicator'
Treasury Secretary Scott Bessent responded to Moody's recent downgrade of the U.S. credit rating, calling the agency a 'lagging indicator.' Bessent defended the nation's economic strength in an interview on NBC's 'Meet the Press.' He argued that current economic conditions are not accurately reflected in Moody's assessment. The downgrade lowered the U.S. credit rating by one notch from its highest level.
Source: Read the original article at NBC