U.S. Economic Official Criticizes Moody's Credit Rating Decision

According to Odaily, the Director of the U.S. National Economic Council, Kevin Hassett, has criticized Moody's decision to downgrade the U.S. credit rating, describing it as an outdated perspective. He emphasized the Trump administration's commitment to reducing federal spending. Hassett stated, "There is no doubt that U.S. Treasury bonds are the safest investment on Earth. No country's bonds are more desirable to hold than U.S. Treasuries, so Moody's can do as it wishes." He added that the decision reflects a backward-looking approach, penalizing the current administration for the previous administration's reckless spending. Hassett further noted, "We are cutting spending and deregulating. We have supply-side growth, giving us every reason to believe we will have the world's best economy. If you have the world's best economy, you also have the world's best debt. That's my assessment."